News

Maabarot to invest in Algaia

27 Sep 2016

Following its declaration of intent last week to acquire Cargill’s alginate business, Algaia has announced that, upon closing, it will welcome Israeli health and nutrition products company Maabarot Products as an investor.

Following its declaration of intent last week to acquire Cargill’s alginate business, Algaia has announced the name of its new investor. Upon closing, Algaia will welcome Israeli health and nutrition products company Maabarot Products to its shareholding structure.

Over the past several decades, Maabarot has expanded its activity into the vitamin, mineral and nutrition supplements market through multiple successful acquisitions. The company also has a joint venture with Nestlé, selling its products on its domestic market under the Materna brand.

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

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

Maabarot’s mission is to develop, manufacture and supply advanced nutrition and health products which are reliable, safe and improve the quality of life of its customers.