Evonik acquires Norwegian manufacturer of food ingredients
Acquisition helps Evonik to expand the portfolio of its Health Care Business line
Evonik Industries has acquired the company MedPalett AS, with headquarters in Sandnes (Norway). MedPalett AS specialises in food ingredients containing anthocyanins. The acquisition helps Evonik to expand the portfolio of its Health Care Business line in the area of advanced food ingredients. The parties have agreed not to disclose the purchase price.
Anthocyanins are known for their natural antioxidant properties. Numerous international studies suggest broad health-promoting properties including the prevention of cardiovascular disease.
'We are seeing an increase in demand for innovative food ingredients, especially those made from natural substances with scientifically proven benefits, and that’s something we want to be a part of,' says Dr Reiner Beste, Chairman of the Board of Management of Evonik Nutrition & Care GmbH.
MedPalett, which previously belonged to the Norwegian Biolink Group, developed a berry extract from wild Scandinavian bilberries and black currants from New Zealand that has a particularly high and stable anthocyanin content. The company manufactures the ingredient itself. The berry extract, which is marketed as a dietary supplement under the brand name Medox, has been available in Scandinavia since the year 2000.
Evonik has distributed the berry extract since 2015 under the name Healthberry 865, with exclusive distribution rights in Canada, Brazil, China, Japan, Korea, Australia, New Zealand and South Africa.
'We have been a partner to the food ingredients industry for decades with our high-purity amino acids. Expanding our portfolio with nutritional solutions which promote health is a logical step in the development of our Health Care business,' says Dr Jean-Luc Herbeaux, head of the Health Care Business Line at Evonik. For MedPalett, the integration into the Evonik Group primarily means improved access to international markets and higher R&D resources.
