EID Parry buys 48 per cent stake in US firm

Chennai: EID Parry has acquired 48 per cent stake in Valensa International, a company engaged in nutraceuticals based in Florida, USA.

“Going forward, EID Parry will be jointly managing this company with the existing promoters and professionals. EID Parry’s manufacturing and research facilities will support Valensa’s operations,” says a press release from EID Parry.

EID Parry is a leading manufacturer and exporter of Certified Organic Spirulina and carotenoids such as natural beta carotene, astaxanthin and tomato lycopene.

The company is a global leader in microalgal technology and has commercialised three major microalgae sources of Nutraceuticals — Spirulina, Dunaliella salina (Source of natural beta carotene) and Haematococcus pluvialis (Source of astaxanthin).

The company has drawn out plans to become a dominant player in the global carotenoids market, which has wide application in the dietary supplement, functional food and beverage sectors, the release says. “The business will leverage on its microalgal expertise and will explore partnership/alliances to meet this objective,” the release says.

EID Parry is also in the process of setting up a Life Sciences Division for developing novel formulations to address the various lifestyle diseases at IIT Madras Technology Park, Chennai. Sources in the company said it would take up 8,000 sq ft of space in the park.

Headquartered in Eustis in Florida, USA, Valensa International is a leading science-based developer, formulator and provider of high quality naturally sourced products for the nutritional supplements and functional foods industry.

Their products are offered by using supercritical CO2 extraction process. The company is a key player in the global astaxanthin market. It has good product conceptualisation skills and patent protected product formulations.

Investing in Valensa will benefit EID Parry’s Nutraceuticals business by having access to science-based product patents, extraction technology and market access to the US and EU countries.