Today, Corbion Purac and Malladi Specialties Limited (MSL) signed an acquisition agreement to close on October 9th, 2015.
MSL is a leading manufacturer in India of lactic acid and lactic acid based derivatives such as calcium lactate, sodium lactate and buffered lactic acid and supplies the pharmaceutical, home & personal care, chemical and food industries in India. MSL is a Malladi Group Company, one of India’s leading pharmaceutical companies.
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”.