LycoRed Corp. recently announced its acquisition of the assets and business of H. Reisman Corp., a major player in the U.S. natural carotenoid market. H. Reisman was a subsidiary of Pharmachem Laboratories Ltd.
The addition of H. Reisman Corp.'s natural carotenoid product range provides synergy and expands LycoRed's position in the market. H. Reisman Corp. has extensive experience in added-value carotenoid formulations and manufacturing, and provides LycoRed with a U.S. manufacturing base. LycoRed is well known in the dietary supplement and food industries as a leading supplier of value-added ingredients, with a focus on natural carotenoids.
"LycoRed, with its acquisition of H. Reisman, will be able to provide a complete service package; offering a wider product range, and the extensive analytical and formulation capabilities of LycoRed's other companies," says Morris Zelkha, president and CEO of LycoRed Ltd. "This is part of an industry-wide consolidation towards single suppliers of multiple value-added ingredients and services, and LycoRed is much attuned to the needs of our customers."
Pharmachem Laboratories and LycoRed have been successful business partners for the last decade. LycoRed's flagship natural tomato lycopene brand, Lyc-O-Mato, owes its strong market position in part to the effective sales team of Pharmachem Laboratories. LycoRed and Pharmachem Laboratories will continue to work cooperatively after the acquisition of H. Reisman and Pharmachem will continue to be the sales arm for LycoRed carotenoid beadlet products.
Michael Reuben, current vice president and general manager of H. Reisman Corp., will continue with the new organization to ensure smooth transition and integration with LycoRed.
This new acquisition will be part of the newly formed LycoRed Corp., which was created in November 2005 with LycoRed's acquisition of Buckton Scott Nutrition and is managed by Leo Cullen.
