VENTURES: Adcock Expands Market With Unique Formulations Acquisition
Recent Western Cape Business News
Adcock Ingram has announced the acquisition of Unique Formulations, a Cape Town-based operation specialising in high quality products for the vitamin and health supplement - or neutraceutical - market.
Jonathan Louw, CEO of Adcock Ingram, says that while the company has a favourable market presence in tonics through its leading Bioplus and Vita-Thion brands, growing awareness among consumers around health and wellness has led to the identification of further growth potential in the larger supplements category.
“The Unique Formulations supplement range of vitamins, minerals and condition-specific health products supports our organisation’s strategic intention to extend our reach into the broader vitamin and mineral supplement market,” says Louw. “Together with the Unique Formulations range of high quality products that comply with pending complementary legislation, Adcock Ingram’s marketing, sales and distribution expertise and infrastructure will allow us to compete effectively as a significant player in this complementary category.”
Winston Bursey, who founded Unique Formulations 10 years ago, says the company’s product range consists of 94 products spread across eight broad product lines that meet the nutritional needs of individuals according to gender, age and life stage.
“It is our belief that the acquisition will allow for a strengthening of the brand position on many fronts,” say Bursey. “Most importantly though, this move will serve to create a synergistic partnership between Adcock Ingram and Unique Formulations that will benefit the consumer while at the same time, provide additional support for our retail trade partners.”
According to Louw, as consumers try to mitigate the negative effects of stress and poor diet, there has been an increasing acceptance of the vitamin and mineral supplements category as a means to achieving a healthier lifestyle.
“In addition to supplementation focussing on combating risks associated with lifestyle diseases such as diabetes, obesity and cholesterol, formulations including herbs, super-fruits, vitamins and minerals in their natural state are meeting a demand from consumers as the trend towards beauty from within continues to grow across the globe,” he says. “Adcock Ingram has every intention of maintaining the Unique Formulations philosophy of delivering outstanding value by providing highly effective and affordable supplements to all consumers of complimentary medicines, with a product and marketing mix that has successfully been diversified to facilitate stable and robust business growth well into the future.”
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