Fairfield, New Jersey - Nov. 7, 2005 - In a move aimed at strengthening its position in the U.S. nutritional ingredients market, LycoRed Corp. has acquired the assets and business of Buckton Scott Nutrition, Fairfield, N.J., a subsidiary of Buckton Scott Group.
The acquisition of Buckton Scott Nutrition’s leading range of dietary supplement ingredients, expands LycoRed Group activities in this market where it already plays a major role as market leader with its flagship product, Lyc-O-Mato(R), natural tomato lycopene complex.
In addition to its product line, Buckton Scott Nutrition brings its marketing capability in the U.S. dietary supplement industry to LycoRed. LycoRed Group will also benefit from Buckton Scott’s strength in sourcing high quality raw materials for nutritional products, internationally.
"The dietary supplement and health food industries in the U.S. are looking for “one-stop-shop” 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.” says Morris Zelkha, President and CEO of the LycoRed Group. "This acquisition is one of LycoRed’s several srategics steps aimed at increasing our capabilities in the US and abroad."
“LycoRed and the Buckton Scott Group have shared a successful business partnership over the last years and this association will continue”, says Allen Williams, owner of the Buckton Scott Group. Leo Cullen, current Executive Vice President of Buckton Scott Nutrition, along with Chris Nolte and William Redwood, will ensure a smooth transition and integration of the Buckton Scott Nutrition business into LycoRed Grop.
LycoRed Corp. will reorganize its US sales and marketing team, focusing on better servicing of its customer base and expansion of the LycoRed business. The existing business relationship with the H.Reisman / Pharmachem organization continues, as the companies move forward together.
The LycoRed Group is currently doing business in the U.S. as LycoRed Corp., a newly formed U.S. company, and a fully owned subsidiary of LycoRed Natural Products Industries, Ltd. U.S. business operations will be headquartered in New Jersey.
For further information please contact: