The manufacturer of natural active ingredients for the cosmetic, pharmaceutical, nutraceutical and microbiology industries has acquired Algatech, a company that specialises in the development, cultivation and commercialisation of ingredients derived from microalgae.
“The acquisition represents a growing awareness of the opportunities presented by microalgae-based products, which is currently one of the most promising long-term, sustainable sources,” suggest the two companies in a release on the acquisition.
“Algatech is leading innovation amongst its peers and is one of the very few companies in the world to have perfected commercial-scale production at the very highest standard.
“The company’s mission is to unlock and share the immense power of microalgae by bringing more algae-based products to market and continuing to explore its wide-ranging applications.”
Algatech will sit at the centre of Solabia’s nutrition division and the combination will allow both companies to benefit from an extended network and base of expertise, as well as opportunities to access new marketing channels and an expanded customer base.
Solabia will now work with Algatech’s team to accelerate the growth of its current product portfolio and develop new algae-based products for the cosmetics and pharmaceuticals industries, where microalgae is already used in a range of products by global cosmetic brands.
The transaction represents a full realisation of UK-based investment firms Grovepoint Capital and JCA Charitable Foundation in Algatech, while Kibbutz Ketura will retain a minority share.
Gerard Josset, Chief Executive Officer of Solabia Group, commented: “Algatech’s pioneering R&D, impressive manufacturing facilities, market leading product portfolio and established customer base brings the opportunity for Solabia to be present in both fields of macroalgae and microalgae whose futures are very promising.”