OmniActive scouts for acquisitions to expand product portfolio, reach
OmniActive Health Technologies, an integrated nutraceutical ingredient maker, is scouting for acquisitions to enlarge its product basket, gain access to customers and technologies, and expand geographically.
«We are continuously scanning companies for products, customers, and technologies...this may require us to raise capital from financial institutions in India or abroad,» Sanjaya Mariwala, chairman and managing director of Mumbai-based OmniActive, told ET in an interview.
In January 2021, US private equity firm TA Associates had acquired a majority stake in OmniActive.
According to Crisil, as of July 2023, TA held 56.35% stake in OmniActive and the Mariwala family held 39.99%, while the rest was held by other shareholders.
Mariwala expects OmniActive to grow at a much faster rate in the next several years through launch of new products and expansion. The company's revenue in FY23 was ₹716 crore.
Over the years, OmniActive has spent ₹400-500 crore on research and development (R&D) and created a backward integrated model, where it sources flower extracts and botanical plants from agricultural fields through contract farming and established USFDA-compliant facilities to extract, isolate and purify the active nutraceutical ingredients.
It has emerged as one of the top suppliers to global consumer health and pharmaceutical companies such as Bausch & Lomb (eye health), GNC, The Vitamin Shoppe, Novartis and Pfizer, among others.
OmniActive derives about 71% of its revenue from the US while the remaining comes from Europe and other countries. The company sells seven branded and 20 non-branded ingredients.
