Hyderabad based Chemminnova Remedies has entered into JV agreement with Australia based Rapid Nutrition Ltd.
According to the terms, Rapid Nutrition will acquire 74% stake in Cheminnova Remedies in next 18 to 24 months through a special purpose vehicle of the Australian company in India. This JV would facilitate in four areas - research, product development, manufacturing and marketing.
Incorporated in 2001, Rapid Nutrition produces and sells weight loss supplements in Australia. The company offers a range of meal replacement shakes and tablets, as well as appetite suppressants for weight management. The company has presence in Australia, US, European Union and West Asia.
Last January, it formed a $50m JV partnership with Cayman based Equity Partners Fund SPC.
Founded in 2000 by M Seshgiri Rao, Cheminnova is engaged in manufacturing finished formulations and manufacturing of leading brands for reputed companies.
Cheminnova has three production facilities spread across Andhra Pradesh and Himachal Pradesh and manufactures a variety of drug dosages, ranging from solids, liquids and packaged powders.
Currently, Cheminnova group has a manufacturing capacity of 3.5 million tablets, 1 million capsules and 1 million bottles of liquid orals (glass & pet bottles) per 12 hour shift.
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5276
4256
1216
4580
1168
|
|
24684
42
4143
36805
4126
|
|
2100
566
4712
37543
179
|
|
33335 |
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KVEZAR VIEW
| Date | Type | Buyer | Target | Size ($mn) | State |
| 15/03/2013 |
M&A |
Fresenius Kabi India Private Limited |
Goa Manufacturing Unit |
36.74 |
Completed |
| 01/03/2013 |
M&A |
Mylan Inc |
Agila Specialties Private Limited |
1600.00 |
Completed |
| 21/02/2013 |
M&A |
Mylan Laboratories Limited |
Unit - VI (Andhra Pradesh) |
32.01 |
Completed |
| 20/02/2013 |
M&A |
IMCD Group |
Indchem International |
- |
Completed |
