Everstone group acquires stake in OmniActive Health for $35 million
In India the nutraceuticals industry is expected to reach $6.1 billion by 2020. Photo: Zeebiz Team
Private Equity firm Everstone Group on Monday acquired stake in Mumbai-based OmniActive Health Technologies for $35 million (Rs 221 crore) to expand its business.
OmniActive will use the transaction proceeds from this deal in its inorganic growth strategy and execute the acquisition opportunities it has identified, the company said in a press release.
Commenting on the acquisition, Sameer Sain, Co-Founder and Managing Partner, Everstone Group, said, “This investment aims at helping OmniActive scale its already strong presence in the fast-growing nutraceutical space. We are excited about partnering with the Mariwala family and building a world class global business.”
The deal is Everstone’s third in the healthcare and wellness sector in less than a year, the company said in a press release.
Sanjaya Mariwala, Managing Director, OmniActive Health Technologies Ltd. said, “We welcome this partnership with the Everstone Group. With the support of its experienced teams and funding, OmniActive looks forward to building on our history of solid organic growth by further strengthening our presence globally using innovative products and technologies.
As per the release, in India the nutraceuticals industry is expected to reach $6.1 billion by 2020. The global nutraceuticals supplements market was estimated at $108 billion in 2014 and is expected to touch $168 billion by 2020.