Fully integrated provider of uPVC and Polyethylene products, Resintech Bhd, has cemented their plans to acquire 30% stake in wholesale provider of healthcare products and supplements, Bionutricia Holdings Sdn Bhd (BHSB).
The Group signed a memorandum of understanding (MoU) with BHSB’s major controlling shareholders and co-founders of the group for RM8.7 million. Resintech anticipates the acquisition to have a hand in boosting its future financial performance.
Managing Director of Resintech, Datuk Dr Teh Kim Poo, commented on the public’s amplified awareness regarding food safety over the last few years, mainly on what goes into the preparation process of food and beverages.
“Bionutricia’s green biotechnology extraction processes are suitable for colouring and flavouring in food and beverages because of the natural ingredients used.
“Our entry into the biotechnology space through the acquisition of Bionutricia is recognition of the growth opportunities from the increasing food-safety awareness among consumers. We expect demand for safer and natural food colourants and flavourings to grow exponentially as a result of these health and food-safety concerns,“ Teh said.