Avestha Gengraine Technologies, a biotech in Bangalore, India, said it had acquired Renaissance Herbs, a Chatsworth, Calif., natural-products maker. The company’s release is here. Financial terms of the merger weren’t disclosed.
From the release:
The acquisition supports the fulfillment of Avesthagen’s bio-nutritional business strategy through vertical integration and access to key markets. The company is a leader in the use of advanced biotechnologies for the discovery and development of natural plant extracts that provide health benefits supported by scientific studies and clinical trials. These products are incorporated into “functional” foods or marketed as dietary supplements for direct use by the consumer. Dr Villoo Morawala Patell, Founder and Managing Director of Avesthagen, commented, “We believe that this acquisition is highly synergistic for both companies. The world class processing facilities will accelerate the launch of our botanical extracts and the RHI distribution infrastructure allows us to rapidly launch products into the dietary supplement market. And on the RHI side, Avesthagen’s in-house technical capabilities can hasten the development of a proprietary RHI product line with improved health claims.”
RHI brings to Avesthagen full vertical integration and access to two of the most attractive markets in the world, the US and Japan. RHI has a strong position in Japan through a long-standing relationship with Nippon Shinyaku, and in the US, which is a supplement market exceeding US$20 billion in value, RHI is a supplier to the largest branded companies and also sells under its own brand, “Ayurceutics”.