Stauber Acquires Pharmline from Gadot

FULLERTON, Calif.—Stauber Performance Ingredients acquired Florida, N.Y.-based Pharmline Inc. from Gadot Biochemical Industries, Haifa Bay, Israel. The purchase price was not disclosed. Gadot purchased a majority ownership of Pharmline in mid-2007, with management stating the purchase would help it expand beyond its food ingredient portfolio into more nutraceuticals and custom blends.

 

Stauber itself changed hands in early 2011, with ICV Partners, a New York-based private investment firm, taking a majority ownership position. At the time, Ira Moreland, managing director of ICV, said the firm had been looking at the nutraceutical space for a while and considered Stauber a perfect fit, noting, "We believe we can assist in Stauber’s future growth by helping to further grow its customer base, expand its product portfolio and identify new acquisitions that can position it into adjacent markets."

One such market is the manufacturing space, as Dan Stauber, CEO of Stauber, noted. The company has outsourced the majority of its manufacturing and processing. "The establishment of Pharmline as our manufacturing arm is a pivotal step to our future as we endeavor to become a complete 'solution-provider' to our growing customer base," he said, adding that the companies had relatively minimal geographic overlap and complimentary product portfolios.

Olivier Guiot, president of Pharmline, said the combined company should see revenues in excess of $100 million, with many product development projects already under way. The company operates a cGMP (current good manufacturing practice) compliant facility that has ISO 9001:2000 and HACCP certification, offering a range of services including granulation, premixes, microencapsulation and tollcompaction. Guiot added, "By becoming part of Stauber, we can bring the strength of our top brands and years of processing experience, quality and know-how, and match them together with Stauber's strong team, professional approach and reach to the market."