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Roquette has announced the completion of its acquisition of a majority stake in a pharma packaging company based in India.
Plant-based ingredients company, Roquette, has announced the completion of its acquisition of a majority stake in Crest Cellulose, from Pravesha Industries, which is a pharma packaging company based in India.
Through this joint venture, Roquette will be able to expand its offering of pharmaceutical excipients and nutraceuticals, strengthening its position as a supplier to the pharma industry and provider of natural-based pharmaceutical excipients. As the majority shareholder, Roquette will have a controlling stake and will manage the day-to-day operations of Crest Cellulose.
“The creation of this joint-venture with Pravesha Industries is key in the development of our service offering in the pharmaceutical market,” explained Jean-Marc Gilson, CEO of Roquette, in a Dec. 12, 2018 press statement. “Crest Cellulose is not only a perfect fit from a product portfolio point of view, but it will also help us strengthen our geographic presence in Asia to better serve our clients in the region and address a global growing market. We are looking forward to working alongside Crest Cellulose’s talented employees to help our customers address global health challenges.”
Paul Smaltz, vice-president of the Roquette Pharma GBU, added, “This strategic investment strengthens Roquette’s global leadership as an excipient supplier, in line with our ambitions. With its manufacturing plant designed and built according to the highest pharma standards and quality systems, Crest Cellulose will enlarge our cellulose-based excipients offering to customers with superior solutions and will bring us closer to our customers in India and the whole of Asia.”