Malaysian firm, Carotino SDN BHD, a subsidiary of the J C Chang Group, has bought 50% stake in the Pune based food company, Synergy Foods from its promoters, the Bhave Family, reports The Economic Times. Post the stake acquisition, Synergy foods has been renamed as Carotino India. Synergy Foods specialises in de-oiled lecithin and other food ingredients and exports de-oiled Soya Lecithin in powder form along with other food ingredient products.
Synergy Foods has sold the stake as it was looking at bringing in a strategic partner who could bring value added nutraceutical products to India. The deal would also help Synergy Foods promoters in expanding globally.
Carotino plans to launch and distribute Malaysian company’s product, rich premium red cooking oil brand, Carotino, in Maharashtra. Its distribution will later be expanded to other parts of the country.
The J C Chang Group practices sustainable agriculture. The group owns and manages 100,000 acres of oil palm plantations. Carotino, a blend of canola oil and red palm fruit extract, is India’s first and only cooking oil rich in natural anti-oxidants.