The sale will allow Lycored to focus on its core activities — carotenoids for food and health, tomato-based products and micro-encapsulated ingredients.
As part of the transaction all the company’s premix-related activities and assets — which are based mainly in the UK and China — will be transferred to Prinova.
Rony Patishi-Chillim, CEO of Lycored, said: “This is an exciting transaction for both companies. For Lycored it is a key step in realising our strategic direction and brand promise to cultivate wellness.
”By focusing on our core technologies and our fully vertically integrated business, we will be able to enhance our offering and maintain our dedication to customers. “Prinova is inheriting some great teams and bringing in its own expertise.”
The divestment is another step in executing the business strategy Lycored announced two years ago.