Indian nutraceutical pioneer joins Tirupati Group in wake of US50m cash injection

22-Aug-2019 - Last updated on 22-Aug-2019 at 01:23 GMT

The company has highlighted sports nutrition and probiotics as growth areas.

The founder of Indian trade association the Expert Nutraceutical Advisory Council Sandeep Gupta has joined the Tirupati Group as Global President and Chief Strategic Officer, just weeks after the company secured $50m of funding from private equity firm Affirma Capital.

Tirupati is a nutraceutical-focussed contract research and manufacturing company formed in India in 2005.

It manufactures protein supplements, ayurvedic / herbal supplements, multivitamins, minerals, fortified food and beverages, sports nutrition and pre / probiotic products for more than 200 customers across multiple dosage and packaging forms.

Mragank Jain, Executive Director at Affirma India, said: “We are optimistic about the growth prospects of the nutraceuticals and wellness opportunity. The sector is growing rapidly, driven by increasing consumer awareness around preventive healthcare. We are very excited to partner with the Tirupati Group that has built a leading position in the Indian nutraceutical industry.

"We look forward to supporting the company’s strategy and driving growth, both in India and overseas, using our longstanding experience as an investor in the emerging markets, sector expertise and global network.”

Probiotic push

And Ashok Goyal, CEO of Tirupati Group, aded that emerging product segments including sports nutrition and prebiotic and probiotic supplements would be key categories for the firm's expansion plans.

Meanwhile Sandeep Gupta joined the company as Global President and Chief Strategic Officer.

He will be steering multiple business units spanning nutraceuticals, sports nutrition, ayurveda and pharma.

Gupta played a leading role in the development of Food Standards and Safety Authority of India (FSSAI) regulations for the nutraceutical sector and campaigned for GST on nutraceutical products to be reduced from 28% to 18%.

He told us that the company would strive to launch new and innovative products and technologies, while forging new partnership and alliances.

The Group has four manufacturing facilities based out of Paonta Sahib.