A Somerset manufacturer of sports and health nutrition products has merged with a Swedish-based firm in a deal worth millions of pounds. Bridgwater's Calleva has become part of nutraceuticals and pharma group Wellma.
Calleva specialises in the development and production of nutritional liquids and powders, which are used in the sports, health and lifestyle industries.
The deal marks Wellma鈥檚 entry into the 海角视频 - and its first base outside the European Union. The Swedish company now has six production sites including in the Netherlands, Italy and Germany.
Ed Ryle, chief executive of Calleva, said the merger would give his firm access to "a range of new opportunities" including a wider product portfolio and extra R&D capabilities. 鈥淲e believe Wellma represents a perfect fit for Calleva, both strategically and culturally," he said.
鈥淲e are very excited to welcome the Calleva team to the Wellma family,鈥 added Christian Merup, chief executive of Wellma. 鈥淐alleva has impressed us from the start; high commitment to quality, strong innovation capabilities, customer focus, specialized knowledge, and a great entrepreneurial team."
Financial services firm Westcotts advised Calleva on the transaction. Will Mudd, corporate finance director at Westcotts, led the M&A advisory team for Calleva.
He said: 鈥淚t is not often that a deal evolves which so perfectly aligns the interests of all parties. The Calleva team are very high calibre and will be a huge asset to Wellma and the wider European group. The exciting growth and expansion plans are another great example of why the South West is a great place to do business.鈥
