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ICL has entered into a definitive agreement to acquire Bartek Ingredients, a global supplier of food-grade malic and fumaric acid used across food, beverage, confectionery and bakery applications.

Under the terms of the deal, ICL will initially acquire approximately 50% of Bartek through a cash investment of about $90 million, with the first phase of the transaction expected to close in the first quarter of 2026, pending regulatory approvals and customary closing conditions. A second phase, which would result in full ownership, will be completed subject to business and integration milestones.

Bartek Ingredients, headquartered in Ontario, Canada, generates roughly $65 million in annual revenue and distributes its products to customers in more than 40 countries. The company operates vertically integrated maleic anhydride and food-grade malic and fumaric acid production facilities, claimed to be the only of their kind in North America.

Malic and fumaric acid are widely used by food and beverage manufacturers to enhance flavour profiles, extend shelf life and improve product stability. The ingredients also have applications in personal care and other industrial markets.

Bartek is currently constructing a new production facility scheduled for completion in 2026. Once operational, the facility is expected to significantly expand production capacity and support increased participation in the global functional food ingredients market, which is projected to exceed $45 billion by 2030.

ICL's president and CEO, Elad Aharonson, said: “This strategic acquisition helps position us for further growth, as we leverage our existing global food presence to expand into other food ingredient segments."

Andrew Ross, CEO of Bartek Ingredients, said: “We expect to maximise our potential and capture an even larger share of the growing global functional food ingredients market by leveraging ICL’s global scale, technical expertise and R&D capabilities“.

ICL is a global speciality minerals company serving food, agriculture and industrial markets, with approximately $7 billion in revenue in 2024. Its shares are listed on the New York Stock Exchange and the Tel Aviv Stock Exchange.