Oterra acquires Akay Group
Global supplier of natural colours Oterra has announced that it has completed the acquisition of India’s Akay Group. This acquisition is the company’s fourth in under two years and its first within the Asia–Pacific region.
Founded in 1995, Akay Group is involved in the natural colours and nutraceutical ingredients market. Based in Kerala, India, Akay has four manufacturing sites in southern India that Oterra will add to its existing production network, as well as 400 employees who will join its team.
The acquisition further strengthens Oterra’s backwards integration, mainly in turmeric and paprika. It also provides a strong addition in the nutraceutical ingredients area and a complementary portfolio to add to its existing natural food colours solutions for dietary supplements.
The two companies have a longstanding connection. Oterra, previously known as Chr. Hansen Natural Colors, was, in 1995, part of a joint venture with Akay to produce natural colours from turmeric and paprika.
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