The company has taken a 51% ownership stake in Waggot. The deal was signed off on October 13, 2020.
Headquartered in China and focused on vertically integrated production of plant-based sweeteners, extracts and flavors, Layn said the acquisition is in line with its long-term strategic planning and that it marks a significant milestone in its sustained commitment to innovation and leadership in quality botanical extract production and delivery.
Layn and Wagott plan to consolidate R&D resources to launch more tea-based polyphenol products, including those tailored to animal and pet nutrition.
“The acquisition of Wagott will further [enhance] Layn’s position in polyphenol rich antioxidant extracts,” a spokesperson told us.
Polyphenol-rich tea extracts are critical components of Layn's TruGro animal and pet nutrition portfolio, she added, including the producer's functional feed ingredients targeted at poultry, swine and aquaculture production - TruGro GH – for gut health - and TruGro AR – for antibiotic growth promoter (AGP) replacement, along with its technological antioxidants such as TruGro AOX, designed to extend shelf life of animal feed and pet food.
Feng Gu, general manager, Wagott, said by utilizing Layn’s formulation and application strengths and proprietary platforms, the company anticipates significant product innovation and the introduction of new lines such as white tea and pu’erh tea extracts as well as organic certified tea extracts.
Gu will remain in its role at Wagott following the acquisition.
The European market, followed by Latin America, are Layn’s priority markets in terms of its feed range.
China is a more complex market, Mary Joe Fernandez, global VP of sales and business development, Layn, told this site in September. But the botanical ingredients company foresees new opportunities there with ongoing recovery in the swine herd, and a renewed interest in immunity boosting inputs.
In terms of the US market, Layn is focused on growing its pet food ingredients line in that territory, she said.