Rapid Nutrition To Acquire 74% Stake In Cheminnova Remedies
by Charmi Gutka
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.