Zydus and Perfect Day Form 50:50 JV to Lead Animal-Free Protein Production

BILKULONLINE

Ahmedabad, Aug 24: Zydus Lifesciences Limited , through its wholly owned subsidiary, and Perfect Day Inc., a Temasek portfolio company, have entered into an agreement where Perfect Day will sell its approximately 50% shareholding in Sterling Biotech Limited . Following this transaction, Sterling Biotech will become a 50:50 Joint Venture with equal representation on the Board.

The JV plans to establish a state-of-the-art manufacturing facility dedicated to producing fermented, animal-free protein for global markets. This collaboration aims to accelerate the production of high-quality, eco-friendly protein products, reduce environmental impact, and meet the growing consumer demand for fermentation-based and ethically sourced nutrition. This partnership marks a significant step forward in the global effort to transform the food industry and promote a healthier planet.

This acquisition represents Zydus’ entry into specialized biotech products for health and nutrition, targeting consumers who prefer animal-free protein or are lactose intolerant. Perfect Day’s precision-fermented protein is already found in ice creams, cream cheese, sports nutrition products, and baked goods, offering high functionality benefits with a lower environmental impact.

The transaction highlights the importance of emerging global markets for environmentally friendly and sustainable products. Perfect Day will enhance its technological capabilities in India as part of its growth strategy for emerging markets, while Zydus will leverage its strong manufacturing and commercial expertise. This manufacturing partnership reaffirms the commitment of both parties to making India a key player in the global supply chain.

SBL is currently engaged in the manufacturing and sale of fermentation-based API products and gelatine. With a focus on animal-free protein products, the JV partners will also strategically evaluate the API and gelatine business.

Dr. Sharvil Patel, Managing Director of Zydus Lifesciences Limited, stated, “We are dedicated to promoting growth through partnerships and are consistently exploring new collaborations to position India as a premier global supply chain hub. We are excited to join forces with Perfect Day and create a combination that leverages both our strengths and expertise to create value for consumers.”

Narayan TM, Interim CEO of Perfect Day, added, “This partnership allows Perfect Day to significantly boost its capabilities to meet the demands of the fast-growing global market. We deeply value our collaboration with Zydus and believe this joint venture will allow both parties to benefit from each other’s expertise.”

NovaaOne Capital Private Limited is acting as the exclusive financial advisor to Perfect Day for this transaction.