Avesthagen acquires US ingredients supplier

Avesthagen, a Bangalore-based integrated biotechnology platform company, has acquired a US-based ingredients supplier for $11 million.

Refusing to name the company, Villoo Morawala Patell, vice-chairman and MD of Avesthagen, said it is a cross-border deal with a company that has presence in the UK, the US and Dubai.

The company, which supplies active nutritional ingredients (ANIs) to food majors Nestle and Danone, has also made progress on that front. “The food majors have taken the products that address the problems of osteoporosis and diabetes to the pre-clinical stage,” said Patell.

(Source: Business Standard )