Lehvoss and Engredo JV strengthens foothold in Nordic nutraceuticals market
02 Jun 2021 --- Lehvoss Group has entered into a joint venture (JV) with Denmark-based Engredo to strengthen its established Lehvoss Nutrition business unit in the Nordics.
The JV comprising the two specialty nutraceuticals and minerals companies will operate as LUV Engredo Lehvoss Group.
“From the Lehvoss perspective, the deal delivers a significant regional focus in the Nordics, which is an important market for [us],” Ivan Pennington, head of nutrition and managing director for Lehvoss UK, tells NutritionInsight.
The financial terms of the agreement have not been disclosed, but Pennington affirms that Lehvoss Group made a “significant investment” in Engredo.
“Lehvoss has taken a significant shareholding in Engredo. Engredo will continue to exist and will be part of the Lehvoss Group.”
The JV will allow Lehvoss Nutrition to consolidate its nutritional offer, sales, marketing and regulatory expertise with an experienced team.
Lehvoss and Engredo’s new JV will provide specialty nutraceuticals and minerals to industry.“Lehvoss and Engredo decided that [a JV] was the best route that suited both companies and owners, and will ensure the partnership flourishes,” Pennington adds.
Building on each other’s strengths
Lehvoss Group offers a broad range of industrial, chemical, personal care, nutraceutical and mineral solutions, while Engredo is a specialized provider of ingredients for the food, supplement and pharma industries.
For Lehvoss Nutrition, this JV presents an opportunity to strengthen its product portfolio as Engredo has an “interesting range” of products, which will be also accessible to the European Nutritional team in the future.
For Engredo, the merger with Lehvoss will allow it to join forces with a company that complements its business “perfectly.”
The JV will significantly widen its product portfolio and serve its clients and partners on multiple levels. This ranges from ingredient supply to product development and launch of new and innovative solutions in the field of food, supplements and pharma.
In addition, Engredo will get the support of a large network and a group that has a strong presence in many European countries, which makes them a strong and long-term partner with the ability to serve their clients on all levels in the future.
Future forward
Looking ahead, Pennington says the next steps are for the parties to flex synergies from the respective portfolio of products and further strengthen the visibility and activities in the Nordics.
Lehvoss Nutrition has been active in the nutraceutical and nutrition space. Last month, Lehvoss Nutrition added the Ayurvedic extract tinofend to its natural ingredient product range from Verdure Sciences.
Lehvoss Nutrition also recently expressed its intentions to strengthen its position in the seaweed market.
By Missy Green
