Eric Larson, Co-CEO of Tilia who will serve as Chairman of the Board, said in the release: “We are delighted by the opportunity to work with Alan Yengoyan, Dr. Michael Lelah, and the talented NutriScience team as they build upon their established and proven strategy: to develop and supply proprietary, high quality ingredients to the health & wellness market.” Johannes Burlin, Jim Miller and Rob Celin of Tilia also joined the Board of NutriScience Innovations.
NutriScience’s Founders Jacob and Martha Pallathra partnered with Lakeview Equity Partners in 2017; with Tilia’s investment, Lakeview will no longer be involved in the company. “The leadership and strategic vision of Alan Yengoyan, CEO, with whom we originally partnered in this investment, was a key contributor to the robust growth and performance we experienced with this investment,” said W. Kent Velde, President of Lakeview Equity Partners, a Milwaukee-based private equity fund. “We are thrilled to have partnered with Alan and his team.”
Alan Yengoyan, who has served as President & CEO of NutriScience since 2017, will continue to lead the company going forward and serve on the Company’s Board. In the press release, he commented: “We are thrilled to be joining Tilia to actively support its mission of discovering the potential within the global food and nutrition supply chain. With Tilia, NutriScience will continue its mission to discover new ingredients, invest in science and provide our customers with new ideas and exceptional customer & technical service. This, along with Tilia’s expertise and support to accelerate our strategic initiatives provides a fantastic foundation for growth.”
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Johannes Burlin, Co-CEO of Tilia, added: “Our investment in NutriScience represents our commitment to execute our deep sector focused strategy. NutriScience has earned a marketplace reputation for technical expertise, reliability and quality through its longstanding commitment of delivering specialty ingredient solutions to leading dietary supplement, nutraceutical and functional food brands over the past two decades.”Jim Miller, Tilia Operating Partner, concluded: “NutriScience, with their science-based ingredient sourcing and selling approach combined with their comprehensive portfolio of proprietary, branded ingredients, is uniquely positioned to help food and nutritional supplement customers address the growing consumer trends of personalized nutrition and a wellness lifestyle. We are excited to support Alan and the NutriScience team in achieving their growth objectives.”
