Prinova (Carol Stream, IL) has announced it has reached an agreement to acquire Israeli-based Lycored’s China and United Kingdom Premix operations. As part of the transaction all the company’s premix-related activities and assets, which are based mainly in the U.K. and China, will be transferred to Prinova.
The divestment is another step in executing the business strategy Lycored announced two years ago. It will allow the company to focus on its core activities—carotenoids for food and health, tomato-based products and micro-encapsulated ingredients.
“This is an exciting transaction for both companies,” said Rony Patishi-Chillim, CEO of Lycored. “For Lycored it is a key step in realizing our strategic direction and brand promise to cultivate wellness. By focusing on our core technologies and our fully vertically integrated business, we will be able to enhance our offering and maintain our dedication to customers. Prinova is inheriting some great teams and bringing in its own expertise. We are confident that it will continue to provide excellent service to premix customers across the world while we will even better focus on our main business areas.”
“Prinova has made substantial investments in our North American premix operations and supplies a wide variety of dry and liquid nutrient and flavor premix blends in the U.S. and internationally,“ added Prinova President Don Thorp. “The addition of these premix capabilities gives Prinova the ability to extend these offerings on a global basis, customized to the needs of the regional markets.”
The Lycored facilities in China and the United Kingdom have been supplying leading international food companies with premixes to fortify their products with vitamins, minerals and other nutrients. These premixes address the cereal, beverage, dairy, infant formulation, as well as other premix categories, reflecting the ability to deliver product solutions to the entire range of premix markets.
The transaction was agreed earlier this month and was completed on June 23, 2017.