Ashland Specialty Ingredients (Wilmington, DE) has announced the creation of its new, “renamed” Health and Wellness Unit. According to Ashland, the new division, which combines the company’s nutrition business with Pharmachem Laboratories Inc.’s (Kearny, NJ) ingredients processing capabilities, was created to meet the demands of a fast-growing global nutraceuticals market. Ashland Global Holding Inc. completed its acquisition of Pharmachem last May.
In a press statement from Ashland, David Neuberger, group vice president, pharmaceutical, food, and beverages, Ashland, explained that the combined unit will help the company expand its functional food platform globally. “It will enable us to utilize Ashland’s comprehensive food science capabilities, along with Pharmachem’s advanced ingredient process services expertise, to develop innovative new products for the nutra-food and beverage industry,” he said.
He continued: “We intend to harness the synergy created between Ashland and Pharmachem to help us fully capitalize on emerging trends in the nutraceutical marketplace and food-based supplements.”
Colin MacIntyre, executive vice president and general manager, Pharmachem, echoed Neuberger’s sentiments: “Ashland’s technical knowledge of food science will add a valuable new dimension to our ingredient processing capabilities, and enable the new division to respond quickly and seamlessly to the needs of brand marketers.”
Per the press release, the combined unit will continue to report up through Ashland’s Specialty Ingredients segment.