Foods and beverage ingredients firm BioNeutra Global has increased its manufacturing capacity with the acquisition of a production plant in Edmonton, Alberta, Canada.
The transaction is valued at around $7.85m.
The company will develop a commercial production line at the newly purchased facility, to produce functional food and beverage ingredients and products.
These products will feature isomalto-oligosaccharide (IMO) using the company's patented IMO production processes.
The IMO production line will be the first of its kind in North America. BioNeutra will be the sole producer of IMO products in the region with Health Canada and European EFSA approval and FDA GRAS certification.
BioNeutra Global chairman Bill Smith said: "We believe that this facility, once fully developed, will offer BioNeutra a distinct advantage by substantially increasing the company's capacity to research, develop and produce new, innovative and exciting functional food and beverage ingredients and retail products for markets around the world.
"This facility will also feature the company's training headquarters which will facilitate future global expansion."
Additionally, the facility will include BioNeutra's corporate head office and help the company expand its in-house research and development capabilities.
