Algaia has strengthened its presence in the field of natural seaweed extracts with the announcement that it has agreed to acquire Cargill’s alginate business and its manufacturing facility in Lannilis, northwestern France.
Upon closing, Algaia will also welcome a new strategic investor – as yet unnamed – which will considerably increase its financial resources and fuel its growth ambitions, Algaia said. It follows investment since last year of “several million euros” from Algaia’s three current investors, which it said was a show of confidence in the company’s strategy and management.
Cargill has committed to providing extensive support to Algaia in order to help with a successful transitioning and to facilitate business continuity, Algaia said. Financial details have not been publicly disclosed.
“The acquisition of Cargill’s Alginate business nicely fits into our strategy,” said Algaia CEO Fabrice Bohin. “Our commercial, technical, engineering and management teams benefit from decades of experience in the field of marine-based hydrocolloids or specialty extracts. We will be able to support and grow the alginate business, and we will continue to expand our structure with additional industry talents. We currently benefit from portfolio and strategic synergies with our current Chilean partner. We also developed eco-friendly extraction technologies that Lannilis could benefit from. Our company is focused on speciality marine ingredients with a deep experience in the field. We are both customer service and customer solution orientated.”
Talking about Algaia’s prospective investor, Eric Marty, managing director of Emertec Gestion – one of Algaia’s three main investors – said: “We are delighted to carry on supporting Algaia in this new phase of its development and welcome a strategic investor on board who will bring a significant additional value to Algaia. This is a large company with an international footprint in human and animal health and nutrition. Algaia’s current and new shareholders have the ambition to bring the company to a leading position in the arena of specialty marine ingredients, in which we foresee tremendous potential.”
Alginate is used as an ingredient in the food industry as a thickening agent for drinks and ice cream, as well as a gelling agent for jellies.
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