Corbion Purac Acquires Lactic Acid Business of Malladi Specialties
23 Sep 2015 --- Corbion Purac has signed an acquisition agreement of an undisclosed sum to purchase the lactic acid business of Indian company Malladi Specialties Limited (MSL). The deal is set to close on October 9th, 2015.
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.”
