Company buys lactic acid business
Corbion Purac has acquired Indian lactic acid business Malladi Specialities Limited. The transaction includes the sales and delivery of lactic acid and lactic acid derivatives in India – production will remain with Malladi Drugs and Pharmaceuticals.
Malladi Specialities is a leading manufacturer of lactic acid and its derivatives, including calcium lactate, sodium lactate and buffered lactic acid. It currently supplies the pharmaceutical, home and personal care, chemical and food industries in India.
Frank Goovaerts, Regional Vice President at Corbion Purac Asia Pacific, said: "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".
The deal settled for an undisclosed amount and is due to close on 9 October 2015.