Nutraceuticals ingredients maker Akay acquired by Denmark-based Oterra

Denmark-based natural food colour manufacturer Oterra has acquired Kerala-based Akay Group - a player in the natural colours and nutraceutical ingredients and an existing supplier to the acquirer. Akay has four manufacturing sites and employs more than 400 people. It claims to sell in over 40 countries. Investec served as the exclusive financial advisor JSA as legal counsel to the sellers. Acting on behalf of the buyers, were Rothschild & Co (as financial advisor), Cyril Amarchand Mangaldas and Accura (as legal advisors), Alvarez & Marsal (as operations and compliance advisor), KPMG (as financial and tax advisor), PWC (as tax advisors) and Bain & Company (as commercial advisors).