North American flax supplier Pizzey's Milling, now renamed Pizzey's Nutritionals after its purchase by Irish-based dairy ingredients specialist Glanbia, will retain its independence while utilising Glanbia's sales and R&D resources, president Linda Pizzey told Functional Ingredients.
"It'll be business as usual," she said from Pizzey's Manitoba headquarters. "We have had a lot of takeover interest from various parties in recent years and we felt this was the right time and Glanbia the right company to take the business forward."
Pizzey's recently launched omega-3 fish-flax combination ingredient, MeadowPure Omega3 Ultra, was of particular interest to Glanbia, she said, and resources are being thrown at the ingredient to broaden its exposure in North American and international markets.
"The health benefits of omega-3 are well known to the consumer, and this acquisition marks Glanbia's entry into a complementary sector that is exhibiting strong growth," said Jerry O'Dea, CEO and president of Wisconsin-based Glanbia Nutritionals Americas. "Pizzey's innovation in combining milled flax/fish oil is indeed a breakthrough, as omega-3's from fish oil can now easily be incorporated into a range of food applications."
Pizzey said there were many synergies between the two companies. "R&D work will be conducted into whey/flax combinations, and, obviously, Glanbia's global reach will benefit us," she said. "But we liked this deal because they are taking a hands-off approach to our core business, and we will not be losing any staff or altering our business plans drastically."
The terms of the deal have not been disclosed. Pizzey said the name change had been a joint decision.