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.”
Arla Foods to acquired whey nutrition business from Volac International
April 22nd 2024Arla Foods Ingredients has reached an agreement to acquire Volac’s Whey Nutrition business through a purchase of shares in Volac Whey Nutrition Holdings Limited and its subsidiary, Volac Whey Nutrition Limited and Volac Renewable Energy Limited.
CRN NY State lawsuit update: Dispatch from SupplySide East 2024
April 18th 2024CRN's Steve Mister updates Nutritional Outlook about its ongoing litigation against NY State. The organization sued the state to prevent the enforcement of law that bans sale of weight management supplements to minors.