OmniActive Health acquires botanical ingredients company ENovate Biolife

Industry:    1 week ago

OmniActive Health Technologies, the Mumbai-based nutraceutical maker backed by PE firm TA Associates on Thursday said it has acquired ENovate Biolife, a developer of proprietary, clinically researched botanical ingredients for health solutions for an undisclosed amount.

This deal is funded through internal accruals.

This transaction marks OmniActive’s second strategic expansion, following its purchase of Bangalore-based botanical ingredients company IndFrag in 2017.

“ENovate has done a remarkable job bringing multiple standout ingredients to the market including Muvz, RedNite, and the award-winning Oxyjun,” said Sanjaya Mariwala, executive chairman and managing director of OmniActive.

“This acquisition is in line with our long-term growth strategy of diversifying product portfolios, accessing new customers and technologies and expanding our presence to new geographies,” Mairwala added.

OmniActive is aiming to double its revenue, targeting ₹2,000 crores within the next 5 to 6 years from the present ₹1,000 crores. The company said the acquisition is expected to contribute in achieving this growth.
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