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Our Bureau

Bangalore, July 26 The biotech firm Avestha Gengraine Technologies has acquired a US dietary supplement company Renaissance Herbs Inc (RHI).

The transaction is expected to be completed by this month-end.

RHI is a fully-integrated supplier of proprietary nutritional products that are marketed on a global basis through multiple sales channels. The company sources its raw materials in India and South East Asia for processing in its facilities outside of Bangalore.

The main offices for RHI are in Southern California, which will be merged into Avesthagen’s Delaware campus. Avesthagen employs 290 people worldwide and is headquartered in Bangalore.

The acquisition supports the fulfilment of Avesthagen’s bio-nutritional business strategy through vertical integration and access to key markets.

“We believe that this acquisition is highly synergistic for both companies. RHI’s distribution infrastructure allows us to rapidly launch products into the dietary supplement market,” said Dr Villoo Morawala Patell, Founder and Managing Director of Avesthagen, in a release.

More Stories on : Mergers & Acquisitions | Bio-tech & Genetics

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