Global carotenoid leader Lycored is selling its nutrient premix business to US food ingredients supplier Prinova.

As part of the transaction all the company’s premix-related activities and assets – which are based mainly in the UK and China – will be transferred to Prinova.

The divestment is another step in executing the business strategy Lycored announced two years ago. It will allow the company to focus on its core activities – carotenoids for food and health, tomato-based products and micro-encapsulated ingredients.

Rony Patishi-Chillim, CEO of Lycored, said: “This is an exciting transaction for both companies.For Lycored it is a key step in realizing our strategic direction and brand promise to cultivate wellness. By focusing on our core technologies and our fully vertically integrated business, we will be able to enhance our offering and maintain our dedication to customers.”

She continued: “Prinova is inheriting some great teams and bringing in its own expertise.We areconfident that it will continue to provide excellent service to premix customers across the world while we will even better focus on our main business areas.”

The transaction was agreed earlier this month and was completed on Friday, 23 June 2017.