The acquisition expands Sirio Pharma’s production capacity, portfolio, market insight, and R&D capabilities.
Contract manufacturer Sirio Pharma Company, Ltd., has completed acquisition of its majority stake in California-based contract manufacturer Best Formulations LLC (City of Industry, CA). The acquisition expands Sirio Pharma’s production capacity, portfolio, market insight, and R&D capabilities.
Sirio Pharma manufactures traditional and plant-based supplements in a wide range of dosage forms, including gummies, softgels, tablets, capsules, powders, and beverages. Best Formulations is a 35-year-old manufacturer of, among other supplement products, plant-based softgels, gummies, and personal care products.
In a press release, Patrick Lin, chairman and CEO of Sirio, stated, "With the acquisition of Best Formulations, both parties are expected to fully leverage synergies through strategic cooperation, including an expanded sales network and other strategic resource sharing. Additionally, through technology and R&D collaboration, joint procurement of raw materials, and production/operational coordination, Sirio expects to further enhance our visibility and competitiveness in the global market and expand market share. This combination will strengthen our ability to help customers expand, accelerate growth, and enhance long-term profitability."
Eugene C. Ung, CEO of Best Formulations, added, “The synergies we can bring from our partnership, including the gummy and softgel businesses, have been recognized by some of our key customers. I’m pleased to announce that Jeffrey Goh will lead the team as CEO. I will continue as executive manager working with the board on integration, synergies, and strategies. We collectively expect the synergies will bring higher growth and long-term value to our customers, business partners, employees, and stakeholders.”