IFF snaps up Health Wright Products to drive probiotic formulations
17 Feb 2022 --- IFF Health & Biosciences is slated to acquire formulation and capsule manufacturer Health Wright Products in the first quarter of 2022, subject to customary closing conditions and regulatory clearances.
Health Wright Products manufactures custom formulations and delivers encapsulation and packaging to meet industry requirements for probiotic products.
“Producing thousands of complex formulations for the industry’s most trusted brands, Health Wright Products formulation and finished format abilities will allow us to develop new and customized solutions and formats for a broad base of customers,” says Simon Herriott, president, IFF’s Health & Biosciences division.
Financial terms of the deal have not been disclosed.
Probiotics are growing in demand for a host of spheres ranging from immunity to mental health.Acquisition impact
The acquisition will bring formulation and finished format capabilities to IFF’s Health & Biosciences probiotics, natural extracts and botanicals businesses, IFF adds. The move is set to drive innovation in custom formulation and combination products through joint capabilities.
Health Wright Products is described as a “long-time business partner of IFF’s Health & Biosciences probiotics business.” In 2021, it employed more than 225 people, who will continue to work with the company after the sale, IFF specifies.
It has over 165,000 sq ft of manufacturing space and generated approximately US$100 million in annual revenue in 2021.
“We look forward to joining IFF’s Health & Biosciences division. Health Wright Products quality manufacturing and formulation capabilities, combined with the strong biotech innovation pipeline of IFF’s Health & Biosciences, is an exciting proposition for our customers and employees,” highlights Mark Wright, president, Health Wright Products.
Potential in probiotics
The use of probiotics has seen an increase in demand, with a growing interest in digestive health, as well as weight management, stress and immunity. Probiotics have also been eyed as a means to tackle adult anxiety.
Industry is also seeing potential in utilizing probiotics in functional F&B.
Expanding business opportunities
The latest acquisition comes a year after IFF completed its mega-merger with DuPont’s Nutrition & Biosciences business. As a result of the deal, DuPont received a one-time US$7.3 billion cash payment.
The move married DuPont’s science focus with IFF’s production and extraction expertise, targeting products with women’s health, digestion, immunity and detox positionings.
IFF Health also partnered with DolCas Biotech for the sale and marketing of Curcugen, an all-natural turmeric extract for supplements, F&B.
Edited by Andria Kades
