Ulrick & Short CEO Adrian Short
Swedish investor Novax AB, the investment arm of Axel Johnson, has secured a majority stake in clean label ingredients specialist Ulrick & Short.
The transaction will see Ulrick & Short continue to operate as a standalone business, with Adrian Short remaining as CEO and the existing management team also staying in place.
Co-founder Andrew Ulrick, meanwhile, will retire from his operations role after 21 years but will continue to support the business and be available to it as a strategic advisor.
Ulrick said that as a partner Novax will “provide significant support in the future direction” of the business.