MA Industries subsidiary LycoRed has acquired the assets and business of Buckton Scott Nutrition, a subsidiary of the Buckton Scott Group of Fairfield, New Jersey.
The companies did not disclose the details of the transaction.
Makhteshim Agan CEO Shlomo Yanai said, "This is another step in developing our operations in the health food and dietary supplements market, which is part of our strategic plan for the years to come."
Buckton Scott Nutrition operates in the $20 billion U.S. dietary supplement ingredient market. Buckton Scott Nutrition supplies bulk botanicals and nutraceuticals to the food, cosmetic and health supplement industries within North America.
Makhteshim Agan stated that the acquisition of Buckton Scott Nutrition's range of dietary supplement ingredients expands Lycored's activities in this market.
Makhteshim Agan further stated that Buckton Scott Nutrition brings to LycoRed its marketing capabilities in the North America dietary supplement industry, and a strong position in sourcing high-quality nutritional raw materials.
Lycored's flagship product is called Lyc-O-Mato, a natural tomato lycopene complex. Management and production headquarters of LycoRed are located in Beersheva. The company also markets other formulated carotenoids.
According to Lyc-O-Mato, epidemiological studies have demonstrated the beneficial health effects of tomatoes, tomato products and/or tomato phytonutrients. Many of these benefits have been attributed to the antioxidant and free radical quenching activity of the carotenoids (lycopene, beta-carotene, phytoene, phytofluene) and tocopherols (vitamin E) that occur naturally in tomatoes and tomato extract. No genetic engineering was used in developing the tomato used by Lyc-O-Mato.
The LycoRed group does business in the U.S. as LycoRed Corp., a fully owned subsidiary of LycoRed Natural Products Industries Ltd.
LycoRed group president and CEO Morris Zelkha said, "The dietary supplement and health food industries in the U.S. are moving ahead and are looking for 'one-stop shopping' opportunities for value-added ingredients. The expanded LycoRed group operation in the U.S. will provide a complete service package, including a wider product range and the analytical and formulation capabilities of the LycoRed Group.”
Buckton Scott Group owner Allen Williams said, “LycoRed and Buckton Scott Group have had a successful business partnership over the last years, and this association will continue."