French firm Nexira Group has paid an undisclosed sum to acquire European biotechnology and supplement manufacturer Tournay.
Nexira said that the purchase of Tournay, which produces botanical extracts such as cranberry, green coffee and green tea for products such as its flagship Exocyan brand at a facility near Bordeaux, France, will complement its health and wellness market drive – a segment which will soon account for 35% of commercial activity.
Nexira has set a consolidated sales target of €125 million by 2015 and recently closed its fiscal year with growth of 17% in consolidated sales to €93 million.
"We are confident that this acquisition is aligned with the expansion plan that we announced one year ago,” said Stéphane Dondain, Nexira’s president.
“The acquisition of Tournay Biotechnologies by Nexira will give to the company an international dimension, essential to accelerate its expansion” added Cédric Tournay, Tournay Biotechnologies’ president.
The deal is expected to close by the end of October.
