According to Lycored, the divestment will allow the company to focus on its core activities — carotenoids for food and health, tomato-based products and micro-encapsulated ingredients.
Rony Patishi-Chillim, CEO of Lycored, said: “This is an exciting transaction for both companies. For Lycored, it is a key step in realising our strategic direction and brand promise to cultivate wellness. By focusing on our core technologies and our fully vertically integrated business, we will be able to enhance our offering and maintain our dedication to customers.”
She continued: “Prinova is inheriting some great teams and bringing in its own expertise. We are confident that it will continue to provide excellent service to premix customers across the world while we will even better focus on our main business areas.”
The UK and China facilities supply premixes to the infant nutrition, bakery, beverage and dairy sectors, among others.
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 transaction was agreed upon earlier this month and completed on June 23.