Probi and Viva5 announce strategic joint venture to address growing market

摘要

Swedish based probiotic specialist Probi has entered a strategic joint venture with the US based health and wellness company Viva5 Croup. The joint venture VivaPro LLC will address the global market in probiotic related business areas. VivaPro will be governed as a standalone company operating out of US. Viva5 Croup and Probi will own 51 and 49% share respectively and will have equal representation on the Board of Directors. Probi will have an option to acquire the share majority of the company at a later stage. The joint venture will focus on exploring, researching and co-developing products in probiotic related market segments adjacent to existing core business areas of the two companies.