Avesthagen acquires US ingredients supplier

Avesthagen, a Bangalore-based integrated biotechnology platform company, has acquired a US-based ingredients supplier for $11 million.

Refusing to name the company, Villoo Morawala Patell, vice-chairman and MD of Avesthagen, said it is a cross-border deal with a company that has presence in the UK, the US and Dubai.

The company, which supplies active nutritional ingredients (ANIs) to food majors Nestle and Danone, has also made progress on that front. "The food majors have taken the products that address the problems of osteoporosis and diabetes to the pre-clinical stage," said Patell.

The Avesthagen-Danone research has been on bone health "" both bone growth among children and bone turnover among the middle-aged. Research with Nestle has been on diabetes-related food supplements.

Avesta Good Earth, the consumer foods division of Avesthagen, formally launched a new range of muesli bars for the domestic market.

According to Sandip Dang, CEO, Avesta Good Earth, the launch of Good Earth muesli bars is an attempt to raise the familiarity of muesli among the Indian consumers. The company's portfolio now comprises the muesli bars "" Good Earth muesli and whole wheat crackers.