Peter Hafermann, president, Improve USA, said the acquisition strategically complements the company’s existing aloe vera raw material supply business.
“The synergies resulting from the combination of two outstanding aloe suppliers, together with Pharmachem’s expertise, and our contract manufacturing capabilities through the Alix Technologies Inc. Division, instantly creates a premier international source for nutraceutical and personal care applications for Aloe Vera.”
Hafermann added that the purchase also allows Improve to “enter different markets that we did not previously have strong access to”.
As reported previously by NutraIngredients-USA, the global aloe market is estimated to be worth about $13 billion with food and beverage said to be "the hot place to be". Hafermann could not validate this market data but said it seemed reasonable considering the broad awareness that aloe vera has in personal care products and dietary supplements.
“The dietary supplements space is doing very well,” he added. “Aloe vera in liquid applications for oral use is the largest growth area of aloe vera.”
Details of the acquisition
According to the details of the deal, Improve will continue to sell FPP’s Aloe Con product line to current and future customers and distributors. The transaction marks the exit of FPP from the Aloe business.
“We are pleased to have found a good partner in Pharmachem Laboratories Inc., to realize the sale of our aloe vera business,” said Thomas Brown, Vice President of Florida Foods Products.
“Improve USA (and its parent company Pharmachem Labs. Inc) is committed to aloe vera,” added Hafermann. “The company is making significant investments to support the market, manufactures and consumers as a responsible industry leader.”
In addition, Hafermann confirmed that the company is working on its own studies to support the health benefits of aloe vera.
“If you look at the International Aloe Science Council (IASC) reference list one might conclude that there exists a strong science base and strong history of safe use for aloe vera based products,” he added.
In addition, Improve USA confirmed that Oliver Andersen, formerly of Florida Food Products, has joined their company and he will continue to serve existing customers and distributors as vice president for Improve USA, managing a larger product portfolio for the company.