ICL Group to acquire acidulant leader Bartek in two-phase deal
Key takeaways
- ICL Group is acquiring Bartek Ingredients in a two-phase deal, starting with US$90 million for 50% stake in Q1 2026.
- Bartek is a global leader in food-grade malic and fumaric acid with US$65 million annual revenue across over 40 countries.
- New production facility expected in 2026 as the functional food ingredients market approaches US$45 billion by 2030.
Specialty minerals company ICL Group has entered into a definitive agreement to acquire Bartek Ingredients, a global producer of food-grade malic and fumaric acid, in a two-phase transaction valued at approximately US$90 million for the initial stake.
The first phase, expected to close during the first quarter of 2026 pending regulatory approvals, will see ICL acquire approximately 50% of Bartek through a cash investment of around US$90 million. The timing and scale of the second phase, which will result in full ownership, remain subject to business and integration milestones.
Ontario-based Bartek generates approximately US$65 million in annual revenue and distributes its functional food ingredients to more than 40 countries. The company operates the only vertically integrated maleic anhydride and food-grade malic and fumaric acid production facilities in North America.
These acidulants are used across food, beverage, confectionery, bakery, and personal care applications to enhance flavor profiles, extend shelf life, and improve product quality.
Bartek is currently constructing a new production facility expected to be completed in 2026, which the companies say will significantly expand capacity and production volumes.
“We are excited to expand our portfolio deeper into specialty food solutions, with the acquisition of Bartek Ingredients — a global market leader in functional food ingredients,” says Elad Aharonson, president and CEO of ICL.
“This strategic acquisition helps position us for further growth, as we leverage our existing global food presence to expand into other food ingredient segments.”
The acquisition advances ICL’s refined strategy focusing on specialty crop nutrition and specialty food solutions, with Aharonson noting the company will “continue to seek additional non-organic growth opportunities in these markets.”
Andrew Ross, CEO of Bartek Ingredients, says the company expects to “maximize 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.”
