PARIS, September 26, 2016 /PRNewswire/ --
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 Ltd. in 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.
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Maabarot will be Algaia's new strategic investor with the Cargill Alginate business acquisition. The company is listed on the Tel Aviv Stock Exchange. Over the past several decades, Maabarot 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."
"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.
Over the past decade, a number of Israeli companies have established leading positions in the food ingredient space. Flavours, savoury compounds, micro-algae 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 recognized as a leading global start-up nation.
About Algaia™
Algaia is an innovative private company owned by three well-established French Venture Capital funds. It broadened its activity in the field of seaweed and other natural extracts. The company is focused on marine ingredients and more specifically seaweed extracts. Algaia's R&D center is currently being transferred to Saint Lô (Normandie). Algaia's headquarters are located downtown Paris. For more detailed information, please visit http://www.algaia.com
About Maabarot
Maabarot is a leading provider of Health and Nutrition products for the Human and Animal market. It was founded in 1963 and counts over 500 employees across the globe. The company is listed on Tel Aviv stock exchange. Maabarot's mission is to develop, manufacture and supply advanced nutrition & health products which are reliable, safe and improve the quality of life of its customers for the benefit of its employees, business partners and shareholders. For more detailed information, please visit http://www.maabarot.com
For further information, please contact:
Algaia
Fabrice Bohin, CEO
Tel: +33-6-7559259
fabrice.bohin@algaia.com
Maabarot:
Danny Taragan, CEO
Tél: +97298984101
mainoffice@maabarot.com
Media contact:
Liat Simha, NutriPR
Tel: +972-9-9742893
liat@nutripr.com
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