Avestha Gengraine Technologies (Avesthagen), a Bangalore-based integrated systems biology company, has acquired Renaissance Herbs (RHI), a US dietary supplement company, for $11 million.
The acquisition will support Avesthagen’s bio-nutritional business strategy through vertical integration and provide access to key markets.
RHI is a Delaware-based company, which is a global supplier of proprietary nutritional products. The company also sources its raw materials from India and South East Asia for processing in its contract facilities outside Bangalore.
According to Villoo Morawala Patell, managing director of Avesthagen, RHI will be merged into Avesthagen and the transaction is expected to be completed by the end of July.
Read more in The Business Standard article.
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