Oterra, a supplier of natural colours, further strengthens its core offerings with the acquisition of Akay Group, a prominent natural ingredients manufacturer.
The acquisition, Oterra’s fourth in 14 months, is a win-win for both parties. Oterra will not only strengthen its access to natural colours, but also strengthen their product pipeline backed by state-of-the-art manufacturing plants and strong research and development capabilities.
“Akay is a great strategic match for Oterra. It adds to Oterra’s best-known core-strength – natural colours, and its portfolio of nutraceutical products complements Oterra’s existing portfolio of products for natural dietary supplements. The demand for all-natural products in this market is on the rise – and so is Oterra,” said Cees de Jong, Chairman, Oterra.
Based in Kerala, India’s spice hub, Akay serves over 40 countries, has four manufacturing sites in southern India and employs more than 400 people.
“We’re very happy to join the Oterra family. We have a fond shared history, that has left a significant imprint on our business understanding and culture, and we share many of the same values. I am very confident that Oterra’s innovative mindset will bring great value to Akay’s customers. In many ways, this is like a homecoming for us” said Dr. Balu Maliakel, Managing Director, Akay.
The two companies have a long-standing connection. Oterra, previously known as Chr. Hansen Natural Colors before its purchase in 2021, was part of a joint manufacturing venture with Akay to produce natural colours from turmeric and paprika in 1995. From 2007, Akay continued as an independent company, but Oterra and Akay have kept close ties with each other as Akay remained a key supplier to Oterra.
“In recent years, Akay has successfully transitioned from a pure colours and flavours business to a leading science-backed botanical ingredients business. We both believe in bringing the best of nature to the world, and we’re happy to welcome the team at Akay to Oterra. We look forward to working together to serve our customers in the future,” said Odd Erik Hansen, CEO, Oterra.
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