LycoRed Implements Reorganization

The reorganization is an integration of all subsidiary companies into one unit, with each region served by a local headquarters.

08/12/05 LycoRed has announced a reorganization of the company and its subsidiaries: Nutriblend, Biodar, Nutriblend International Sàrl, and the latest acquisition, Buckton Scott Nutrition, under the LycoRed name. LycoRed specializes in natural carotenoids for food fortification and dietary supplements, microencapsulation and blending.

The reorganization is an integration of all subsidiary companies into one unit, with each region served by a local headquarters. LycoRed formed three regional offices: LycoRed Corp. in the USA, LycoRed Limited in Europe and LycoRed Ltd. in Israel.

Leo Cullen has been appointed President of LycoRed Corp., David Roberton has been named President of LycoRed Limited, the European headquarters, based in the UK. Peter Gallagher has been appointed Managing Director of LycoRed Limited. In addition, LycoRed Sàrl in Switzerland serves as the European lycopene technical support center, headed by Joost Overeem.

The new organization combines the established skills, innovative technologies and extensive experience of Biodar, Nutriblend and Buckton Scott Nutrition together with LycoRed’s unique expertise in natural tomato lycopene. The reorganization builds upon the group synergies, to enter new markets and deliver innovative solutions to its customers. LycoRed’s growth strategy calls for strong internal growth and acquisitions via building a portfolio of high quality carotenoid brands, natural food colorants and effective fortification technologies.

“As a result, we will streamline the company structure, strengthen relationships with our key customers through enhanced customer service, invest in business development and implement marketing programs for each region”, says Morris Zelkha, President and CEO of LycoRed. “We are confident that this integrated approach will enable LycoRed to achieve superior long-term goals and increase our sales significantly."

LycoRed continues to grow rapidly and successfully from a small innovative company to a leading international supplier for the dietary supplement and functional food industries. CEO Zelkha explains, “We have been the market leader with Lyc-O-Mato® tomato lycopene complex, a product supported by extensive clinical research and consumer advertising, and have been expanding into microencapsulated nutrients and nutrient premixes. This reorganization puts us in a great position to capitalize on our assets and our skill-base, enabling us to achieve the demanding goals we have set for the future.”

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