OmniActive Health Technologies announced new company developments in recent weeks. First, the company reports that private-equity group The Everstone Group has invested $35 million in OmniActive “to further accelerate its growth in the fast-expanding nutraceuticals space.”
According to OmniActive, Everstone’s funding made it possible for OmniActive to acquire an 85% stake in Bangalore, India–based botanical extracts supplier Indfrag Ltd., particulary Indfrag’s botanical ingredients for the food and nutrition industry, including Garcinia cambogia, green coffee, natural caffeine, valerian, turmeric, boswellia, fenugreek, guarana, and more.
According to OmniActive, the acquisition signals OmniActive’s continued commitment to supplying natural extracts. “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 for OmniActive Health Technologies Ltd., in a press release.
The following individuals will join Indfrag’s board: Mariwala; Deep Mishra, managing director at Everstone India; and Chaitanya Desai, COO of OmniActive. Indfrag’s founder, Philip Samuel, will remain chairman of the board.
OmniActive says it will use Everstone’s funding to diversify and expand its product line. The OmniActive deal is said to be Everstone’s third deal in the health and wellness market in less than a year.