Stepan acquires Lipid Nutrition product lines
Posted: 23 June 2011 | Stepan Company | No comments yet
Stepan Specialty Products, LLC has acquired the Clarinol®, Marinol® and Pinnothin® product lines of Lipid Nutrition B.V…
Stepan Company (NYSE: SCL) announced today that its wholly owned subsidiary Stepan Specialty Products, LLC has acquired the Clarinol®, Marinol® and Pinnothin® product lines of Lipid Nutrition B.V., a part of Loders Croklaan B.V. The acquired product lines will be integrated into Stepan’s Food and Health Specialties business, which will be renamed Stepan Lipid Nutrition.
“The Lipid Nutrition product lines combined with our Neobee® Medium Chain Triglycerides products provides us with a unique portfolio of nutritional fats for the Food, Supplement and Nutrition industries,” stated F. Quinn Stepan Jr., President and CEO of Stepan Company. “The clinically proven benefits of these brands are of value to companies seeking to provide consumers with healthy and nutritional products.”
Clarinol® Conjugated Linoleic Acid has been sold as a dietary supplement for over ten years as an ingredient to reduce body fat and increase lean muscle mass. It was approved by the US Food and Drug Administration as GRAS for use in certain food products in 2008. Marinol® concentrated Omega-3 triglycerides are used in clinical and infant nutritional products to promote cardiovascular and neurological health. Pinnothin®, derived from pine nuts, functions as an appetite suppressant.
The acquired products will be manufactured at Stepan’s Maywood, New Jersey plant as well as at existing outside contract manufacturers for sale on a global basis. Financial terms of the transaction were not disclosed.
Stepan Company, headquartered in Northfield, Illinois, is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products. The common and the convertible preferred stocks are traded on the New York and Chicago Stock Exchanges under the symbols SCL and SCLPR. For more information, visit Stepan’s website at http://www.stepan.com.