OmniActive Health Technologies Ltd. has acquired an 85% stake with Bangalore- based natural ingredients player Indfrag Ltd.
The acquisition, which also includes definitive agreements to acquire the balance stake, is the first acquisition after OmniActive raised funds from various sources including the recent PE investment by Everstone.
“Indfrag is a world leader in several well known botanical extracts which form the core of supplement formulas world-wide. The Company holds a leadership position in standardized plant extracts. Further, with their strong footprint at the source, they have developed a library of over 100 botanicals-which provides a strong foundation for launching products that complement OmniActive’s innovation platform in meeting emerging industry and consumer needs,” said Sanjaya Mariwala, Managing Director and CEO of OmniActive Health Technologies Ltd.
“By coming together, both companies intend to spearhead industry efforts to bring to our customers fully authenticated and validated extracts that meet the emerging standards of safety, reliability, transparency and traceability.”
Philip Samuel, Indfrag’s founder and Managing Director added: “Having grown to our current size we have been exploring partnerships and alliances which can help expand the market for our current products, and multiply our capability to bring some exciting new products to the market,”
“With its focused, IP protected and clinically substantiated portfolio of branded ingredients and strong industry linkages, OmniActive is a natural partner.”
Indfrag will operate as an independent business, and OmniActive and Indfrag teams will continue to manage their respective product lines and customers.The current senior management team led by Philip Samuel will continue to engage, which will help maintain customer relationships and transition of the business to OmniActive