E.I.D-Parry, the Murugappa Group company, has completed the acquisition of Valensa International, a US-based nutraceutical company.
According to a press release from E.I.D-Parry, which held a 48 per cent stake in Valensa since 2008, the acquisition has now been completed at a cost of Rs. 22.4 crore. This strengthens Parry’s presence in the fast growing nutritional supplements, natural food ingredients and formulations business.
Valensa offers a range of branded ingredients and formulations including Astaxanthin, spirulina, Saw Palmetto extracts and a range of seed extracts and a newly formulated krill product.
The acquisition provides an opportunity for Parry to move up the value chain by producing formulations and marketing opportunities in the US and across the world. There will be significant launches of Valensa formulations later this year and in the early part of 2012.