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Absolem Extractions, a subsidiary of Absolem Health, recently signed a definitive deal with AREV. The deal is expected to position Absolem as the leading solution for functional extraction of mushrooms. For the uninitiated, AREV delivers and creates functional ingredients and compounds, while Absolem offers extractions for the functional food market, particularly in mushrooms.
Speaking on the development, Ken Kuiper, CEO, Absolem, said that the company is thrilled about the expanding global interest in functional mushrooms. The company feels that it has the potential to become the best commercial extraction unit in the market, and AREV’s extensive knowledge in extractions could majorly help Absolem reach its peak.
Michael Withrow, CEO, AREV, meanwhile said that Absolem’s team has identified huge growth in natural medicines. Their company is pleased to be a part of this innovation and hopes that this partnership would lead to the production of another line of formulations and branded ingredients, contributing towards strengthening its revenue stream.
Reportedly, Absolem Health has also finalized the purchase of One Up Pure Energy, a beverage and food line of functional mushroom powders, snacks, teas, and mushroom-based meat alternative protein items.
Prior to this, the Yield Growth Corp. had made its entry into the edible mushroom market when its subsidiary, Flourish Mushroom Labs Inc. inked a deal to acquire 9 recipes that include edible mushrooms as an important ingredient.
According to reliable sources, the recipes come from various creators which include, a holistic health coach and food chemist, a chef and a chemical engineer. Moreover, the deal was expected to be finalized under 30 days.
Yield Growth has also agreed to purchase 30% of Absolem Health Corp. (owner of One Up Pure Energy). For the uninitiated, Absolem Health holds Health Canada approval for edible mushroom snacks.
As for Absolem Extractions and AREV deal, details regarding to the terms of the agreement will be announced when the transaction is finalized. However, it would be subject to the approval of the CSE.
Source Credit: https://www.nutraceuticalbusinessreview.com/news/article_page/Absolem_enters_mushroom_extraction_joint_venture/160416
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