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OmniActive acquires ENovate Biolife strengthening its position in dietary supplement space
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Saturday, 09 November, 2024, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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OmniActive Health Technologies announced its acquisition of ENovate Biolife, a developer of proprietary, clinically researched botanical ingredients for health solutions. This deal, funded through internal accruals, has further strengthened the company’s commitment to providing high-quality, scientifically validated health ingredients to consumers globally.
With advanced encapsulation technologies that enhance ingredient solubility, stability, and bioavailability, it has established itself as a leader in differentiated, safe, and effective dietary supplement solutions. Looking ahead, the Company aims to double its top line, targeting Rs 2,000 crore within the next 5 to 6 years from the present Rs 1,000 crore. The acquisition is expected to contribute in achieving this growth. This transaction marks its second strategic expansion, following its purchase of Bengaluru-based botanical ingredients company IndFrag in 2017.
Sanjaya Mariwala, executive chairman and managing director of OmniActive, said, "ENovate's approach to ingredients perfectly aligns with OmniActive's mission of delivering proven products that make a meaningful difference in consumers' lives. ENovate has done a remarkable job bringing multiple standout ingredients to the market including Muvz, RedNite, and the award-winning Oxyjun. This acquisition is in line with our long-term growth strategy of diversifying product portfolios, accessing new customers and technologies and expanding our presence to new geographies."
Jayesh Chaudhary, founder and CEO of ENovate, said, "We are extremely proud of the strides we have made to help our loyal customers deliver products formulated with clinically backed ingredients to address consumer health and performance needs. OmniActive's comprehensive capabilities spanning across clinical research, R&D, regulatory, marketing and operations, along with global reach, position us well to elevate these ingredients even further."
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