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OmniActive Health Technologies acquires 85% stake in Bengaluru’s Indfrag
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Tuesday, 17 January, 2017, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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OmniActive Health Technologies has acquired an 85 per cent stake, and entered into definitive agreements to acquire the balance stake, in the Bengaluru-based health and nutrition active natural ingredients player Indfrag.
The acquisition includes all products related to Indfrag’s food and nutrition business. This is in line with OmniActive’s programme to create global partnerships which help expand the portfolio of high-quality authenticated ingredients for the dietary supplement and functional food industries.
Indfrag has established a significant presence in the international market as a leading supplier of high-quality botanical and plant extracts from India and South East Asia for the dietary supplement and nutraceutical industry.
It is a world-leader in Garcinia Cambogia, green coffee, Valerian and natural caffeine extracts, and a prime manufacturer of other products such as turmeric, green tea, boswellia, fenugreek, senna, coleus, guarana, etc.
“Indfrag is a world leader in several well-known botanical extracts which form the core of supplement formulae world-wide. It holds a leadership position in standardised plant extracts,” said Sanjaya Mariwala, managing director and chief executive officer, OmniActive Health Technologies Ltd.
“It has developed a library of over 100 botanicals, which provides a strong foundation to launch products that complement our innovation platform,” he added.
“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,” Mariwala stated.
Building on a strategy of mergers and acquisitions (M&A) to grow inorganically, OmniActive has acquired Indfrag by raising funds from various sources including the recent private equity (PE) investment by Everstone.
In the last 18 months, the company completed 12 human clinical trials in healthy populations across its portfolio of branded ingredients, providing unique, science-based claims to expand consumer offerings.
“OmniActive’s purpose is to improve lives by enhancing nutrition and wellness through science and innovation. As part of the Federation of Indian Chambers of Commerce and Industry (FICCI) taskforce, we are working to align the Indian industry to meet the expectations of regulators and fully justify the confidence of the consumer in such products,” stated Mariwala, who also heads FICCI’s nutraceutical taskforce.
“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,” said Philip Samuel, founder and managing director, Indfrag.
“With its focused, intellectual property- (IP) protected and clinically-substantiated portfolio of branded ingredients and strong industry linkages, OmniActive is a natural partner,” he added.
Indfrag will operate as an independent business, and the OmniActive and Indfrag teams will continue to manage their respective product lines and customers.
The current senior management team, led by Samuel, will continue to engage, which will help maintain customer relationships and transition of the business to OmniActive.
OmniActive will take the lead in expanding the technical and scientific support for Indfrag’s range of products.
Along with Mariwala, Deep Mishra, managing director, Everstone India, and Chaitanya Desai, chief operating officer, OmniActive, will be joining Infrag’s board. Samuel will continue as chairman of the board.
Lazard acted as a sole financial advisor to Infrag’s shareholders on the transaction.
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