PETALING JAYA: Resintech Bhd has signed a memorandum of understanding (MoU) for the acquisition of a 30% stake in Bionutricia Holding Sdn Bhd from the controlling shareholders for RM8.7 million.
The fully integrated provider of polyethylene products and unplasticized polyvinyl chloride (uPVC) acquired the stake from the controlling shareholders, comprising Bionutricia CEO Ng Kuak Ping and general manager Kong Siew Mee.
Resintech managing director Datuk Teh Kim Poo said the heightened awareness and education on food safety in recent years indicated that people have higher awareness of the ingredients used in the processing of the food and beverages they consume.
“Bionutricia’s green biotechnology extraction processes are suitable for colouring and flavouring in food and beverages because of the natural ingredients used.
“Our entry into the biotechnology space through the acquisition of Bionutricia is recognition of the growth opportunities from the increasing food-safety awareness among consumers. We expect demand for safer and natural food colourants and flavourings to grow exponentially as a result of these health and food-safety concerns,“ Teh said.
Ng said Bionutricia would work with Resintech on the possible growth for its products and solutions in the food and beverage industry.