Algaia has completed the acquisition of Cargill Alginate business and manufacturing plant after having obtained all necessary approvals. This complements the recent acquisition of Alganact SA, a start-up company specialized in seaweed biomass valorization, the opening of a greenfield R&D centre in Saint Lo, France and the recruitment of a team of business and technical experts.
Located in Lannilis (Brittany – France), the newly acquired plant is strategically positioned 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. “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 further more. 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” said Fabrice Bohin, CEO of Algaia.
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 developed very rapidly over the last 12 months, strongly supported by well-established Private Equity firms.
In October 2016, 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 firm in Europe with about 800 millions € of assets in management.
A dynamic organization Over the last months, Algaia has considerably strengthened its organisation with the recruitment of an experienced management and operational team coming from both the specialty food, marine ingredient and FMCG industries.
Upon closing, Algaia will benefit from an international commercial and technical team backed-up by a dedicated customer back office speaking multiple languages. The new management structure is composed of experienced business and technical experts having decades of experience in both conventional seaweed extracts (e.g. carrageenans, alginates etc..) and specialty seaweed extracts (used as health ingredients for various applications). The new team now forms a unique combination of expertise able to innovate beyond traditional boundaries. Recently, the company also welcomed Sylvie Le Cossec as CFO, adding to Algaia a long standing experience of business optimization and change management built in the Fast Moving Consumer Goods industry.
“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 months”, commented Sylvie Le Cossec, Algaia’s new CFO.
The opening of its brand new R&D centre of about 1,000 square meters in Normandy and its new head quarter downtown Paris completes the picture of an organization rapidly shaping to become the “natural partner” of the agro-nutrition, personal care and nutraceutical industries.
The details of the transaction will not be communicated.