Corbion Purac announces the acquisition of the lactic acid business of Malladi Specialties Limited.
Today, Corbion Purac and Malladi Specialties Limited (MSL) signed an acquisition agreement to close on October 9th, 2015.
MSL is a leading manufacturer in India of lactic acid and lactic acid based derivatives such as calcium lactate, sodium lactate and buffered lactic acid and supplies the pharmaceutical, home & personal care, chemical and food industries in India. MSL is a Malladi Group Company, one of India's leading pharmaceutical companies.
The transaction includes the sales and delivery of lactic acid and lactic acid based derivatives in India. No production facilities will be acquired. Production will remain with Malladi Drugs and Pharmaceuticals Limited (MDPL), also part of the Malladi Group, which will produce derivatives on behalf of Corbion Purac. MDPL is one of India's leading pharmaceuticals manufacturing Company with a global presence. This transaction allows for a local production base through the partnership, while maintaining control on quality supplied to our customers. Corbion Purac has acquired the lactic acid business for an undisclosed amount.
Frank Goovaerts, Regional Vice President , Corbion Purac Asia Pacific: "For over 80 years Corbion Purac has been an established name and superior service provider in the food and pharmaceutical industry with lactic acid and its derivatives. MSL has a very strong customer base and distribution network in India. This acquisition will enable Corbion to grow its distribution network and customer service in India even further".
For more information, please contact:
Anna Sobczak, Marketing Communications Manager, a.sobczak@corbion.com
Background information:
Corbion: biobased solutions, designed by science, powered by nature, and delivered through dedication. Corbion is the global market leader in lactic acid, lactic acid derivatives and lactides, and a leading company in emulsifiers, functional enzyme blends, minerals and vitamins. The company delivers high performance biobased products made from renewable resources and applied in global markets such as bakery, meat, pharmaceuticals and medical devices, home and personal care, packaging, automotive, coatings and adhesives. Its products have a differentiating functionality in all kinds of consumer products worldwide. In 2014, Corbion generated annual sales of € 770.1 million and had a workforce of 1,893 employees. Corbion is listed on NYSE Euronext Amsterdam. For more information: www.corbion.com
Malladi Group was founded in the year 1980. Malladi has over the years specialized in Molasses based fermentation processes. Among other products Malladi has also developed the process to manufacture Lactic Acid from Molasses. The company today has grown into a major Active Pharmaceutical Ingredients manufacturer with customers in over 50 countries. The company is also engaged in Contract Research, Custom Synthesis and Contract Manufacturing for Multinationals and Large Pharma companies. The company has 3 manufacturing plants in 2 locations in South India .
