Algaia SA, following its declaration of intent last week to acquire Cargill’s alginate business, announces the name of its new investor
Upon closing, Algaia will welcome Maabarot Products into its shareholding structure. Maabarot, a well-established company with a global footprint based in Israel, markets a comprehensive range of products in the health and nutrition segments.
Maabarot will be Algaia’s new strategic investor with the Cargill alginate business acquisition.
The company is listed on the Tel Aviv Stock Exchange. During the past several decades, Maabarot has expanded its activity into the vitamin, mineral and nutrition supplements market through multiple successful acquisitions. The company also enjoys a leading position in the infant nutrition segment through its joint venture with Nestlé SA, selling its products on its domestic market under the well-established Materna brand.
'This investment into Algaia as it simultaneously acquires Cargill’s alginate business corresponds perfectly with our ongoing strategic intent,' explains Eyal Shalmon, Chairman of Maabarot.
'We have been actively seeking acquisitions in the field of specialty natural extracts mainly derived from marine sources to serve our ambition to expand the company internationally. We believe that the marine ingredient space has huge potential. Maabarot is prepared to invest significantly through Algaia into the Lannilis plant to continue improving the facility and expand its activity further,' added Eyal.
'We aligned with Algaia’s management and our new partners on their ambitious strategy,' adds Danny Taragan, Chief Executive Officer of Maabarot. 'We believe in Algaia’s management, know-how, business and technical expertise and we have high expectations from Algaia’s team.'
Maabarot’s mission is to develop, manufacture and supply advanced nutrition and health products which are reliable, safe and improve the quality of life of its customers.
During the past decade, a number of Israeli companies have established leading positions in the food ingredient space. Flavours, savoury compounds, microalgae and natural colours are some of the domains Israeli companies have been rapidly attaining. They typically select markets where innovative technologies, new products or unique positioning can make the primary difference. Israel, often called 'the Silicon Valley of the Middle East,' is recognised as being a leading global start-up nation.