Algaia Welcomes Maabarot Products as Strategic Investor

26 Sep 2016 --- Following on from last week’s handshake deal to acquire Cargill’s Alginate business, Algaia has revealed a new strategic investor - Maabarot Products Ltd.

Algaia welcomes the well-established Israel-based company, which markets a range of products in the health and nutritional sector, into its shareholding structure. Listed on the Tel Aviv stock exchange, Maabarot will be Algaia’s new strategic investor with the Cargill Alginate business acquisition.

“This investment into Algaia as it simultaneously acquires Cargill’s alginate business corresponds perfectly with our ongoing strategic intent,” says 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.”

Over the past several decades, Maabarot has expanded its activity into the vitamin, mineral and nutrition supplements market through multiple successful acquisitions, as well as establishing a leading position in the infant nutrition segment through its joint venture with Nestlé SA, selling its products on its domestic market under the Materna brand.

“We aligned with Algaia’s management and our new partners on their ambitious strategy” adds Danny Taragan, CEO of Maabarot. “We believe in Algaia’s management, know-how, business and technical expertise and we have high expectations from Algaia’s team.”

Last week Algaia CEO Fabrice Bohin spoke with FoodIngredientsFirst about the deal with Cargill’s seaweed business will boost operations in the fast-growing sector which should be completed in November.