Parry acquired a 48pc stake in Valensa in 2008 as a part of its business strategy to move up the value chain in the Nutraceuticals Business.
Valensa International is a leading science-based developer and provider of high quality nature-sourced ingredients and formulations for nutritional supplements and functional super foods with its certified organic production facilities located in a protected pine forest and Saw palmetto grove in Orlando, Florida.
Valensa offers a range of branded ingredients and innovative formulations including Astaxanthin, Spirulina and Astaxanthin Complex, Saw Palmetto Extracts, Perilla seed CO2 extract, CO2 Chia Seed Extract, Chia Seed Oil, Low-Fat Whole Grain, Cranberry Seed Extract, Astaxanthin-Cranberry Seed Extract and its new formulated Krill product.
"There is a huge synergy in this acquisition," said Sajiv Menon, Business Head (Bio and Nutraceuticals) of E.I.D.-Parry.
"Parry Nutraceuticals is a global leader in micro algal technology producing the world's finest certified organic Spirulina, natural beta carotene from Dunaliella salina, and Astaxanthin from Haematococcus pluvialis.
"This acquisition 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."
Parry invested Rs.22.4 crores for acquisition of the outstanding shares of Valensa.
--IBNS (Posted on 07-10-2011)