Neptune Technologies & Bioressources Inc., a biotechnology company, has recently acquired the Montreal-based Biodroga Inc. for $15 million.
Biodroga provides omega-3s as well as other functional ingredients to branded marketers in the nutraceutical industry—mostly in North America. The company’s products mostly include omega-3s, accompanied with other important nutritional ingredients used in specialty formulations.
“Biodroga offers a scalable solutions platform, with a broad range of product development capabilities and cross selling opportunities,” Jim Hamilton, President and CEO of Neptune said in a news release. “The acquisition allows us to play a much broader role in the customer value chain, leveraging our collective capabilities with an expanded set of offerings.”
Hamilton added that the acquisition is in line with Nepture’s strategy to build on their current solution business “by further progressing into specialized product development services, such as formulation and blending.”
