Food & Flavour
Sirio Pharma Announces Agreement to Acquire Best Formulations 11th July 2022
Sirio Pharma Co., Ltd. (Sirio) – the global nutraceutical contract development and manufacturing organization (CDMO) – and Best Formulations, Inc. (Best) today announced that they have entered into an agreement for Sirio to acquire 80% equity of Best, a contract manufacturer of nutraceuticals and dietary supplements based in City of Industry, California.
Best Formulations, founded in 1984, is a leading contract manufacturer of softgels in North America. It engages in the manufacturing and commercialization of vitamins, minerals, plant-based nutritional supplements and personal care products. Best manufactures for leading health and wellness brands in the US.
“This is a significant milestone in Sirio’s strategy to establish a global manufacturing footprint. By adding Best’s world-class North American manufacturing facilities to our established bases in Asia and Europe, the combined company will be able to better serve both our global and regional customers with local production everywhere they want to be,” commented Doug Brown, Managing Director of Sirio Americas.
Best’s City of Industry complex will serve as Sirio’s North American headquarters after the transaction is completed.
“Our entire team is very excited to join the Sirio family in a shared mission of providing our customers with world-class service and innovative products. This combination will allow us to grow our business faster with global resources and capabilities,” said Eugene Ung, CEO of Best Formulations.
The transaction is expected to close in Fall of 2022.