Bayer has sold subsidiary Alimtec to a company owned by India-based company Murugappa for an undisclosed sum.
India-based sugar manufacturer EID Parry a subsidiary of conglomerate Murugappa Group, has acquired Chile-based nutraceuticle producer Alimtec from Germany-based chemical and pharmaceutical company Bayer for an unknown amount, Live Mint has reported.
The acquisition provides EID Parry with a reliable source of the organically occurring astaxanthin, a chemical found in fish and shellfish, for Valensa International, its US-based vitamin and supplement subsidiary.
A spokesman for EID Parry told Live Mint: “This acquisition will culminate in value creation for the nutraceuticals…
