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Algaia completes alginate acquisition
12 Jan 2017Algaia has completed the acquisition of the Cargill Alginate business and manufacturing plant after having obtained all necessary approvals. This, it says, complements the recent acquisition of Alganact.
Algaia has completed the acquisition of the Cargill Alginate business and manufacturing plant after having obtained all necessary approvals. This, it says, complements the recent acquisition of Alganact, a start-up company specialising in seaweed biomass, 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 brown seaweed site collecting over 60,000 tons of fresh biomass 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,” said said Fabrice Bohin, CEO of Algaia. “Our aim is to maintain and potentially increase employment at Lannilis while deploying its activity further more. As a matter of fact, two additional million euros will be invested to upgrade the plant already 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.”