Novus to expand human nutrition presence with IQF Group acquisition

25-May-2010 - Last updated on 26-May-2010 at 16:45 GMT

Specialist animal nutrition company Novus International has acquired IQF Group, a Spanish specialist in carotenoids and essential oils for food and feed, further expanding its human nutrition profile.

Novus International branched out into human nutrition in November last year, when it set up Stratum Nutrition, with the stated intention of applying its experience in animal nutritional research and innovation to developing a portfolio of specialty and functional ingredients that target business-to-business manufacturers of foods, beverages and dietary supplements in North America and Europe.

Novus said that immediately following the acquisition of IQF Group it would focus on integrating the animal nutrition facet of the company, but that the human nutrition side quickly would follow. The IQF branded products that are expected to be moved under the Stratum Nutrition umbrella include Betacol (beta-carotene), Capsicol (capsanthin), Lutecol (lutein), Canthacol (canthaxanthin) and Zeacol (zeaxanthin).

President and CEO of Novus International Thad Simons said: “Incorporating these new technologies into our existing product base will enable Novus to better serve our customers worldwide.”

Terms of the deal have not been disclosed.

A spokesperson for IQF Group said in a statement: “The IQF Group has enjoyed an excellent partnership with Novus since 2001 and this acquisition is a logical and strategic next step. We are confident that the complementary aspects of IQF and Novus cultures and products will build upon the success of our 40 year legacy.”

Stratum Nutrition said that moving into human nutrition is a natural progression for Novus. And this latest move adds to others the company has made in the nutra space since its inception, such as the signing of a global deal with Belgian biotech firm, KitoZyme, to exclusively distribute the company’s vegetarian chitin-glucan ingredient in February.

Stratum Nutrition’s director Jeremy Moore said when Stratum Nutrition was set up: “Many of the challenges faced in animal health and nutrition are similar to the challenges we face as humans. For instance, optimizing bone strength and joint flexibility, supporting digestive health and building lean muscle mass are areas Novus has been very successful in helping traditional customers with for many years.”

Novus is privately owned by Mitsui & Co. (U.S.A.), Inc. and Nippon Soda Co., Ltd.