Schiff looks to probiotics acquisition for growth
SALT LAKE CITY — Schiff Nutrition president and CEO Tarang Amin promised to infuse some new energy into the company with his appointment earlier this spring, and he wasted no time with the Schiff acquisition of two probiotic brands — Sustenex and Digestive Advantage — in June.
“I’m absolutely passionate about brand-building,” he told analysts in March. “Throughout my career, I’ve taken well-established brands and made them even stronger,” he said, referencing his success in building the Pantene and Bounty businesses.
Now Amin is hoping to do the same kind of brand-building in the supplement arena. With the Sustenex/Digestive Advantage purchase, Schiff gains access to the exclusive rights to use probiotic technology GanedenBC30 from Ganeden Biotech. “By acquiring the rights to the leading probiotics technology, we have entered a new, rapidly expanding category that creates accretive growth opportunities,” Amin said.
The probiotics category is presently growing at more than 20% on an annualized basis, according to Nutrition Business Journal.