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| Natural Life Nutrition's headquarters in Vancouver, Canada / Courtesy of EDGC |
By Ko Dong-hwan
Korea's genetic sequencing firm and gene-based services provider Eone Diagnomics Genome Center (EDGC) has acquired Canada's nutritional supplement manufacturer Natural Life Nutrition to broaden its share in the international health supplements market.
The deal came after EDGC set a new goal to dominate the market through its own pipeline with products customized in terms of individuals' genetic traits, health condition and risks of various diseases.
Kim Tae-hyun, director of EDGC's new business team, said the deal combines the Incheon-based company's "global-leading genetic big data and genetic sequencing technologies, together with the Canadian firm's health supplements manufacturing capability." He added EDGC "has now acquired a good cash cow."
Established in 2000, Natural Life Nutrition has shown averaged 22.5 percent business growth per year. With about 70 client companies, the firm recorded 100 billion won ($86.65 million) sales in Korea in 2020 alone. With its intellectual property rights currently recognized in Canada, the United States, Korea and China, the company previously had a goal to develop its own high-end products, according to EDGC.
The Canadian firm currently produces 272 different products under 38 categories, ranging from omega-3 oils to probiotics and vitamins. Kim said the firm's good manufacturing practice (GMP) facility can mass-produce products customized for clients' specific needs based on original equipment manufacturing (OEM) and original development manufacturing (ODM).
Following the deal, EDGC plans to broaden its domestic sales channels in Korea by introducing its products to major online platforms, home shopping and duty free shops. The company also plans to use online markets, like Amazon and Canada's Shopify, to increase its piece of the pie in the North American market. It also plans to pioneer new markets in China, Russia and the Southeast Asian region.
