Guelph, ON—Testing, inspection and certification company SGS has acquired a majority stake in Nutrasource Pharmaceutical and Nutraceutical Services and its subsidiaries (GRAS Associates LLC in the U.S.). The initial investment is 60% of shares of Nutrasource, with the right to acquire the remaining 40% of shares in 2026.
Nutrasource, which recently celebrated its 20th anniversary and an expansion, is a global Contract Research Organization (CRO) in the nutraceutical and pharmaceutical industries focused on helping clients achieve compliance and gain market entry for health and wellness products. The company provides:
- Clinical trial management
- Full regulatory support
- Testing services and product development R&D
- A series of third-party natural ingredient certification programs (NutraStrong, IFOS™, IGEN™, IPRO™ and ICAP™).
SGS shared that Nutrasource has demonstrated consistent growth. Full year revenues reached approximately CAD 20 million as of December 31, 2022. Nutrasource's 100+ employees will join the SGS global network of clinical facilities and laboratories in the Americas, Europe, Africa and Asia, according to the press release.
“This acquisition expands our Health and Nutrition capabilities in North America and complements our global portfolio of solutions into the converging industries of health, nutrition and wellness," said Frankie Ng, CEO of SGS. "This further aligns SGS with the TIC mega-trends, and supports our purpose of enabling a better, safer and more interconnected world."
