EID Parry acquires Valensa International
E.I.D.-Parry (India), the bioproducts and nutraceutical division of the Murugappa Group, has announced the acquisition of 100% of the voting shares of U. S. Nutraceuticals (Valensa International). Valensa will continue to operate as a limited liability company based in Eustis, Florida (USA), with Dr. Rudi E. Moerck as its president and CEO.
Parry acquired a 49% stake in Valensa in 2008. The acquisition was part of Parry's expansion in the North American marketplace and a further build-out of its offerings of branded dietary supplement and condition specific formulations/ingredients including Astaxanthin containing formulations. In the past three years, Valensa and Parry have combined their expertise in micro-algal technology, supercritical CO2 extraction, botanical material sourcing, formulation, product development and global marketing to successfully introduce, science-based ingredients and innovative formulations for health and nutrition.
"There is a huge synergy in this acquisition," according to Sajiv Menon, business head (bio & nutraceuticals) of E.I.D.-Parry. "It provides the platform for Parry to move up the value chain by manufacturing value-added formulations from its ingredients apart from cross selling opportunities in the US and in the rest of the world for both Parry and Valensa," he said. "Valensa's business is now evenly balanced with the company developing science-based, condition-specific formulated products that address unmet needs in Joint Health, Aging, Men's and Women's Health as well as advanced Astaxanthin containing formulations for Eye Health," he added. In the area of eye health, Valensa holds a key patent (US Patent 5,527,533) on the use of astaxanthin, which may mitigate the damaging effects of UV and oxidative stress on the eye, a worldwide problem.