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Nestle’s former Vice President of new business development, Steve Allen has joined ChromaDex Corporation, a natural products company as an independent director. ChromaDex
that provides proprietary, science-based solutions and ingredients to the dietary supplement, food and beverage, animal health, cosmetic and pharmaceutical industries announced the addition to its board of directors.
Allen, age 64, has extensive experience in negotiating merger and acquisition deals and coordinating related due diligence. He has many years of experience handling both in and out-licensing agreements with technology providers and branded companies.
Allen retired from Nestle in December 2009 after a 30-year career in sales, marketing and general management. He was heavily involved in their venture capital investments as well as out licensing technologies.
He is currently non-executive Vice-Chairman of 6 Pacific Group, a Los Angeles-based boutique advisory and investment firm, which assists food and beverage companies with capital formation, acquisitions and divestitures. Recently the firm represented New Chapter in the sale to Procter & Gamble — one of the most significant acquisitions in the supplement business in recent years.
Allen co-founded and is a member of the Screening Committee of Nutrition Capital Network, a business that brings together entrepreneurs and investors in the nutrition and food industries. The major global food and beverage companies like Coca-Cola, Unilever, General Mills, PepsiCo, Campbell’s, Amway, Hershey’s and Nestle are cornerstone investors in Nutrition Capital Network and attend the three meetings each year where new investment and partnering opportunities are presented.
Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented, “It is with great pride and enthusiasm that I welcome Steve as a ChromaDex director. His tremendous insight and experience in the nutritional industry will be a great asset to both our Board and management team.”