LycoRed Expands Natural Carotenoid Business
12 June 2006
LycoRed strengthens its position in the US natural carotenoids market.
LycoRed today announced the acquisition of the assets and business of H. Reisman Corporation, a major player in the US natural carotenoid market. H. Reisman was a subsidiary of Pharmachem Laboratories Ltd.
The addition of H. Reisman Corporation's natural carotenoid product range provides synergy and expands LycoRed's position in the market. H. Reisman Corporation has extensive experience in added value carotenoid formulations and manufacturing, and provides LycoRed with a US manufacturing base. LycoRed is well known in the dietary supplement and food industries as a leading supplier of value-added ingredients, with a focus on natural carotenoids.
"LycoRed, with its acquisition of H. Reisman, will be able to provide a complete service package; offering a wider product range, and the extensive analytical and formulation capabilities of LycoRed's other companies," says Morris Zelkha, President and CEO of LycoRed Ltd. "This is part of an industry-wide consolidation towards single suppliers of multiple value-added ingredients and services, and LycoRed is much attuned to the needs of our customers."
Pharmachem Laboratories and LycoRed have been successful business partners for the last decade. LycoRed's flagship natural tomato lycopene brand, Lyc-O-Mato®, enjoys its strong position in the market, due in part to the effective sales team of Pharmachem Laboratories. LycoRed and Pharmachem Laboratories will continue to work in close cooperation after the acquisition of H. Reisman and continue to be the sales arm for LycoRed carotenoid beadlet products.
Michael Reuben, current Vice President and General Manager of H. Reisman Corporation, will continue with the new organization to ensure smooth transition and integration with Lycored.
This new acquisition will be part of the newly formed LycoRed Corp., which was created in November 2005 with LycoRed's acquisition of Buckton Scott Nutrition and managed by Leo Cullen.
LycoRed is a fast-growing nutritional ingredient company, with regional offices in the US, Europe and Israel. LycoRed's strategy calls for building a portfolio of high value carotenoid brands, natural food colorants and effective fortification technologies. LycoRed's nutrition solutions simplify the development and production process of cutting-edge food, beverage and nutritional supplement products, responding to consumer demand for healthier foods.
