Albion acquires P&G’s NutriStar business & IP assets
The transfer of the NutriStar brand, along with its global trademarks and worldwide patent assets, includes the transfer of 102 patents and 51 trademarks previously owned by P&G throughout the world.
Launched in early 2000 for developing markets, P&G’s NutriStar is a patented, shelf stable powdered drink mix containing key micronutrients (including Albion’s Ferrochel iron, iodine, and vitamin A) designed to help kids grow while also boosting mental alertness and performance.
Despite heavily investing in extensive educational campaigns, P&G was not able to secure broad market adoption.
“We continue to have great passion for this product and the technology behind it, but we also clearly see that getting it into the hands of those who need it most calls for a very different business model,” said Jeff Weedman, Vice President P&G Global Business Development.
“We have been working with Albion Laboratories for several years and view this as a truly win-win-win arrangement. Good technology is now in the hands of those who know this field the best and are best positioned to leverage it to deliver maximum benefit.”
Albion Human Nutrition said it was excited to announce the acquisition “because it further expands Albion’s business supplying ingredients to the food and food additive spaces, including Powdered Beverages and Ready-to-Drink Beverages.
“The growth of this business continues to compliment Albion’s global success as a supplier of specialty mineral ingredients to the pharmaceutical, nutraceutical, and cosmeceutical markets,” said the company in a statement.
CRN
In another development for Albion, the company announced that its CEO Jim Hyde has been appointed to the board of directors for the Council for Responsible Nutrition (CRN).
