09 January 2023 | Monday | News
Eugene C. Ung, CEO of Best Formulations LLC and Patrick Lin, Chairman and CEO of Sirio at the closing ceremony for Sirio’s acquisition of Best Formulations.
"Our vision is to become an innovative leader in the field of nutrition and health, and the first choice of our customers”, said Patrick Lin, Chairman and CEO of Sirio, “With the acquisition of Best Formulations both parties are expected to fully leverage synergies through strategic cooperation, including an expanded sales network and other strategic resource sharing. Additionally, through technology and R&D collaboration, joint procurement of raw materials, and production/operational coordination, Sirio expects to further enhance our visibility and competitiveness in the global market and expand market share. This combination will strengthen our ability to help customers expand, accelerate growth and enhance long-term profitability."
The acquisition of Best Formulations fits into Sirio’s global strategy to bring innovative quality products to customers around the world. By purchasing Best Formulations, Sirio can fully meet the production needs of both international and local brands. Customers will benefit from expanded capacity, global R&D collaboration, local market insights, and diversification of products and services.
Eugene C. Ung, CEO of Best Formulations LLC, said, “We are incredibly excited to partner with Sirio. The synergies we can bring from our partnership, including the gummy and softgel businesses, have been recognized by some of our key customers. I’m pleased to announce that Jeffrey Goh will lead the team as CEO. I will continue as Executive Manager working with the Board on integration, synergies, and strategies. We collectively expect the synergies will bring higher growth and long-term value to our customers, business partners, employees, and stakeholders.”