Murugappa Group firm EID Parry India Ltd, on Friday, announced that it had acquired Chile-based nutraceuticals firm Alimtec S.A, from its parent German-headquartered global chemical giant Bayer, for an undisclosed sum. The move, which is aimed at boosting EID Parry’s nutraceutical business, is to ensure reliable sourcing of Astaxanthin for its subsidiary US Nutraceuticals LLC (Valensa International), which makes Astaxanthin based formulations. The entire production of Alimtec will be used by Valensa for its products catering to US and European markets, according to a statement filed with stock exchanges.
Alimtec makes Haematococcus pluvialis biomass, a cultured micro-algae which is a rich natural source of Astaxanthin for human use.
EID Nutraceuticals business, which fetched Rs.57 crore revenues in 2012-13, is focused on producing and exporting a range of organic spirulina and nature based formulations addressing the health and wellness space.