New Delhi, Mar 1 (PTI) IIFL Asset Management Ltd on Tuesday said it has acquired a minority stake in OmniActive Health Technologies, which offers a wide range of natural nutraceutical ingredients.
Financial details were not disclosed.
The investment has been made through IIFL Asset Management Ltd (IIFL AMC)Special Opportunities Fund series, according to a statement.
Established in 2005, OmniActive seeks to improve lives by enhancing nutrition and wellness through science and innovation. A leader in health solutions, the firm offers a range of premium natural ingredients that are innovative and scientifically validated for dietary supplementation and nutritional fortification.
The company has R&D and manufacturing operations in Pune, Hosur, Hassan and Thane in India; and sales and distribution operations in the U.S., Europe, India, Asia, Australia and Latin America.
TA Associates, a leading global private equity firm, had acquired a significant stake in the company in January 2021.
Anshuman Goenka, Head – Private Equity at IIFL AMC, who led the transaction said, “we are delighted to partner with OmniActive in their vision to become a world-class nutraceuticals player. We believe that this group is well poised to capture the increasing trend towards health-conscious lifestyle and focus on natural health supplements”.
Sanjaya Mariwala, Founder, MD and Executive Chairman of OmniActive, said, “I am pleased to welcome IIFL Asset Management Ltd as a shareholder in OmniActive and this transaction is a testament to the company’s strong growth and reinforces the private equity fraternity’s continued belief in the growth of the nutraceutical sector”. Investec acted as a sole sell side financial advisor to the transaction. PTI SP RAM
