Probi and Viva5 Announce Strategic Joint Venture

Swedish-based probiotic specialist Probi entered a strategic joint venture with the Florida-based health and wellness company Viva5 Group.

The joint venture VivaPro LLC will address the global market in probiotic related business areas. VivaPro will be governed as a standalone company operating out of U.S. Viva5 Group and Probi will own 51 and 49 percent share respectively and will have equal representation on the Board of Directors. Probi will have an option to acquire the share majority of the company at a later stage.

The joint venture will focus on exploring, researching and co-developing products in probiotic-related market segments adjacent to existing core business areas of the two companies.

“With this strategic joint-venture we bring together the distinct capabilities of Probi and Viva5 in order to meet the increased consumer interest and demand for consumer-friendly applications in areas such as functional food, beverages and pet health,” said Albert Dahbour, executive vice president, Viva5.

“This joint venture is an important step in our commercial efforts to address new and attractive market niches,” said Tom Rönnlund, CEO, Probi. “Even in these turbulent times we see great opportunities to jointly build a successful business, based on our longstanding relationship and confidence in our respective abilities to create scientific and commercial success.”

For more information, visit www.probi.com or www.viva5corp.com.