Prinova agrees to acquire Lycored’s premix operations in UK and China
US-based food ingredients supplier Prinova has agreed to acquire Lycored’s Premix operations in China and the UK.
Financial details of the transaction have not been revealed by neither company.
Prinova supplies Vitamin C, B and food grade amino acids through its distribution centres located worldwide.
Commenting on the deal, Prinova president Don Thorp said: “Prinova has made substantial investments in our North American premix operations and supplies a wide variety of dry and liquid nutrient and flavour premix blends in the US and internationally.
“The addition of these premix capabilities gives Prinova the ability to extend these offerings on a global basis, customised to the needs of the regional markets.”
The Lycored facilities in China and the UK are engaged in supplying premixes that are used by the food companies across the globe to strengthen their products with vitamins, minerals and other nutrients.
The premixes are used in the cereal, beverage, dairy, infant formulation, and other premix categories.
With the acquisition of premix businesses, Prinova will have six manufacturing sites around the world located on three different continents.
Prinova CFO David York said: “We now feel very confident we can supply our customers worldwide.”
York also added Prinova will retain all Lycored’s employees in China and the UK.
Established in 1995 in Israel, Lycored manufactures natural carotenoids for food, beverage and dietary supplement products.