Akay Group, an Indian firm that manufactures natural colours and nutraceutical ingredients, has been bought by natural colour provider Oterra.
The 400-person enterprise from Kerala has four manufacturing facilities in southern India. Akay and Oterra have a history together; they were a joint venture up until the mid-2000s.
Dr. Balu Maliakel, Managing Director, Akay, expressed his company’s happiness at joining the Oterra family. “We share many of the same principles and have a happy past that has had a big impact on how we think about business and how we operate. I have every faith that Oterra’s unique outlook will benefit Akay’s clients greatly. This feels a lot like coming home to us.
“In recent years, Akay has effectively transformed from a pure colours and flavours business to a leading science-backed botanical ingredients industry,” stated Odd Erik Hansen, CEO of Oterra. We are pleased to welcome the Akay team to Oterra since we both think that bringing the best of nature into the world is important. Future collaboration to better serve our clients is something we look forward to.
Following the company’s name change from Chr. Hansen Natural Colours in 2021, this is Oterra’s fourth purchase in only 14 months.