Algaia Completes Deal with Cargill’s Alginate Firm to Strengthen Seaweed Portfolio

6ef78b3d-aea7-486f-b8c3-317594868ec0articleimage.jpg

10 Jan 2017 --- Algaia has bolstered its growth in specialty marine ingredients by completing the acquisition of Cargill’s Alginate business and manufacturing plant. This latest deal further strengthens Algaia’s portfolio following the recent acquisition of start-up company, Alganact SA, which specializes in seaweed biomass valorization, as well as the opening of a greenfield Research & Development center in France and recruiting a team of business and technical experts. 

The newly acquired plant is strategically positioned in Lannilis, Brittany next to a large natural brown seaweed resource where over 60,000 tons of fresh biomass are collected annually in a sustainable and regulated manner.

Algaia says the details of the transaction will not be disclosed.

“We have high ambitions in the field of specialty marine ingredients and natural ingredients such as seaweed extracts. Our aim is to maintain and potentially increase employment at Lannilis while deploying its activity furthermore,” says Fabrice Bohin, CEO of Algaia. 

“As a matter of fact, around two additional million euros will be invested to upgrade the plant right after the closing. Furthermore, with the help of Cargill and the Brittany region, all will be done to ensure a smooth transition at customers and to preserve local direct and indirect employment.” 

Algaia has developed very quickly over the last 12 months, strongly supported by well-established private equity firms. It has also received strong support from private investors already active in the seaweed extract market since 2015 after a strategic alliance with Gelymar SA, one of the top leading carrageenan manufacturer in the world.

Algaia has considerably strengthened its organization over the last year with the recruitment of an experienced management and operational team coming from the specialty food, marine ingredient and FMCG industries.

Last October Algaia announced the entry in its shareholding structure of Maabarot Products Ltd, a strategic investor already active in the health and nutrition market with strong ambitions in the marine ingredient space. Shortly after, Emertec, Algaia’s primary historical investors, merged with Demeter to become one of the largest private equity firms in Europe with about €800 million of assets in management. 

The new management team includes experienced business and technical experts having decades of experience in both conventional seaweed extracts (e.g. carrageenans, alginates etc) and specialty seaweed extracts that are used as health ingredients for various applications. 

Recently, the company also welcomed Sylvie Le Cossec as CFO. She says: “I am proud to bring my experience and dedication to such a dynamic, passionate and uniquely positioned company, enriched by new highly experienced talents almost every month.”

Related Articles

Food Ingredients News

McCormick 2018 Flavor Forecast highlights adventurous global fusions

11 Dec 2017 --- McCormick & Company, Inc., has released the McCormick Flavor Forecast 2018. This year’s Flavor Forecast highlights the casual, adventurous and interactive nature of how people are eating across the globe today.

Food Ingredients News

Algaia and AIDP launches next generation seaweed extract for dessert applications

05 Dec 2017 --- Algaia has launched a new alginate line, Satialgine DVA, which is said to be the next generation of seaweed extract for premium dairy and non-dairy dessert applications. 

Food Ingredients News

Cargill’s solar investment strengthens cocoa production in Ghana

01 Dec 2017 --- Cargill has taken steps to modernize renewable energy infrastructure in Ghana by investing in innovative solar energy at a plant in the West African country. 

Food Ingredients News

FiE 2017: Cargill highlights sustainability and healthier reformulation

24 Nov 2017 --- Cargill will offer innovative solutions combining the needs for sustainability and cost optimization, healthier reformulation and label friendliness at this year's FiE in Frankfurt. The focal point of Cargill’s stand will be an inviting “Market Plaza” where food manufacturers will be able to interact with dedicated specialists and discover how Cargill helps fuel sustainable business growth by implementing new ideas and helping customers create successful new products integrating emerging market trends.

Business News

Cargill sells Malaysian edible oil facility to Wilmar International

20 Nov 2017 --- A subsidiary of Wilmar International Limited is snapping up a Malaysia-based edible oils facility from agri-giant Cargill in a bid to bolster its presence in the southeast Asian country. Wilmar Kuantan Edible Oils Sdn. Bhd, has entered into an agreement with Cargill Palm Plantation Sdn. Bhd. for the purchase of Cargill’s edible oil facilities in Kuantan, which includes a palm oil refinery and a neighboring storage facility. 

More Articles