An affiliate of Turnspire Capital Partners will acquire the nutraceuticals business of Ashland, a provider of proprietary nutrition ingredients and custom formulation services to nutritional product companies.
Ashland’s nutraceuticals business offers custom formulation and contract manufacturing capabilities for the nutrition market, across formula design, ingredient sourcing and finished product manufacturing. The business employs approximately 500 across four production facilities in New Jersey and Utah in the US, and Tamaulipas, Mexico.
Completion of the transaction is expected in Q3 2024.
