Natural colours ingredient supplier Oterra has acquired India’s Akay Group, a leader in natural colours and the nutraceutical ingredients market.
Oterra has been actively acquiring in the Asia-Pacific region for the last two years, with Akay the fourth company it has added to its stable.
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 the team.
The acquisition strengthens Oterra’s backwards integration, mainly in turmeric and paprika. It would provide a strong addition to its nutraceutical ingredients area as well as a complimentary portfolio to its existing natural food colours solutions for dietary supplements.
The two companies have a long-standing 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.
From 2007, Akay continued as an independent company, but a key supplier to Oterra.
Oterra CEO Odd Erik Hansen said: “Akay is a strategic powerhouse in the food ingredients industry and their innovation focus and the expertise the employees bring will be strong additions to Oterra.
“I look forward to not only offering Oterra’s customers a strengthened natural colours portfolio, but also having the opportunity to open the industry’s most comprehensive portfolio to Akay’s existing customers.”
