The acquisition will provide Martin Bauer with a portfolio of botanical ingredients. It will also create a new manufacturing hub to service the tea, beverage, food and dietary supplements industries in the United States.
“The addition of BI Nutraceuticals to our Group buttresses our commitment to reliable, quality, safe and clean label raw materials, meeting an increasing demand from our customers and consumers,” Ennio Ranaboldo, CEO of Martin Bauer Group in North America, said.
Under terms of the deal, the two companies will continue to operate independently.
“We are thrilled to be a part of the nature network and the Martin Bauer Group,” George Pontiakos, CEO and president of BI Nutraceuticals, said. “This represents a significant move forward for us and our combined customer base. The Martin Bauer Group is a family-owned international company with a long history as a manufacturer and supplier of teas, extracts and botanical products going back more than 135 years. BI Nutraceuticals will now have access to the global resources of the Martin Bauer Group in the areas of raw materials sourcing, processing technology, liquid extract production and research and development. As part of the Martin Bauer Group, we become a true single source solution provider. Our customers can be even more confident in our long-standing commitment to safety, quality, service and innovation.”
Financial terms were not disclosed.