"The acquisition of Cyvex provides Omega Protein with a strong line of non-marine based products and a stronger Omega-3 distribution network for OmegaPure, our proprietary refined menhaden fish oil," said Joe von Rosenberg, Omega Protein’s Chairman of the Board, President and CEO.
"Cyvex provides us with an immediate presence in the human health and wellness segment and we now will have access to the top supplement retailers who purchase a variety of ingredients, including fish oil,” he added.
Cyvex's president and COO Matthew Phillips will stay on as new CEO of Cyvex, while the company’s founder, Gilbert Gluck, will remain a consultant.
"I have spent the last 26 years building Cyvex into the industry's leading provider of proprietary, condition-specific ingredients. Now, I would like to spend more time pursuing other interests," said Gluck. "Being acquired by Omega Protein Corporation will allow Cyvex the opportunity to grow its KriaXanthin marine oil business within the fish oil market, as well as provide me with a new set of opportunities."