EID Parry (India) Ltd acquires 48% stake in US Nutraceuticals

Chennai, Nov 21 (UNI) As part of the growth strategy for the Nutraceuticals business, EID Parry (India) Ltd has acquired a 48 per cent strategic stake in US Nutraceuticals, LLC based in the State of Florida, USA engaged in the Nutraceuticals business under the name Valensa International.

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, a company release said.

EID Parry's Nutraceuticals Business EID Parry is a leading manufacturer and exporter of Certified Organic Spirulina and Carotenoids like Natural Beta carotene, Astaxanthin and Tomato Lycopene.

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.

UNI WS AKM 2004