Click here for more information about Algenuity
Click here for more information about LiqofluxPhenometrics Buy 3 Get 1 Free
Visit cricatalyst.com!Evodos Separation Technology Check out more of The Buzz spacer

Biotech firm Solabia acquires Israel’s Algatech

May 28, 2019
AlgaeIndustryMagazine.com

Solabia acquires Algatech

Algae cultivation and commercialization firm Algatech Ltd., located at Kibbutz Ketura in southern Israel, has been acquired by the Paris-based Solabia Group.

Paris-based Solabia Group (“Solabia”) has acquired Algatech Ltd., a global leader in the development, cultivation and commercialization of ingredients delivered from microalgae and used by leading food, supplements, and cosmetic brands worldwide. Solabia, a family-owned company working closely with its minority partner TA Associates, occupies a leadership position in biotechnology, fine chemicals and plant extraction technologies, and provides a range of active ingredients used by the cosmetics, pharmaceutical, diagnostic and nutrition industries worldwide.

Founded in 1998 and located in the Arava desert in southern Israel, at Kibbutz Ketura, Algatech is one of the few companies in the world to have achieved commercial-scale production at the highest standard. Over the past two decades, the Company has grown to become one of the world’s largest photobioreactor facilities, and a leading biotech business in the nutraceuticals sector. Algatech currently exports to more than 35 countries, serving leading brands across the nutrition, cosmetic and food and beverage industries.

The strategic investment from Solabia will support Algatech’s continued focus on R&D and product development, as well as the expansion of its production capabilities, enabling the Company to serve the increasing global demand for microalgae. Algatech will become the centerpiece of Solabia’s nutrition division and the combination will allow both companies to benefit from the combined network and expertise, as well as to access new marketing channels and an expanded customer base.

“Algatech’s acquisition by Solabia marks a significant milestone for the Company and all of the people behind its success to date and is an important step towards realizing our mission to unlock the power and share the benefits of microalgae with the world,” said Hagai Stadler, Chief Executive Officer of Algatech. “Together with Solabia, we are poised to extend the Algatech growth story as part of a larger organization with an extensive global footprint, a shared commitment to innovation, research and development, and an unwavering focus on utilizing the benefits of microalgae to elevate the health of all of us.

“I am thankful for the hard work and dedication of our employees, and the incredible support of our previous investors Grovepoint Capital and JCA Charitable Foundation over the past six years.”

“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 the fields of macroalgae and microalgae. Following our acquisition of Algues & Mer in 2016, this investment will allow us to further strengthen our position in the nutrition and food supplement markets,” said Gerard Josset, Chief Executive Officer of Solabia Group.

Financial terms of the transaction were not disclosed, though Kibbutz Ketura will retain a minority share.

More Buzz…

Copyright ©2010-2020 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives

From The A.I.M. Archives

— Refresh Page for More Choices
“The Israeli food-tech industry has been growing in leaps and bounds in recent years and is taking a leading role worldwide with a broad range of innovative companies and...
Cécile Barbière writes for Euractive.fr (translated by Rob Kirby) that, in large greenhouses formerly home to the tomatoes and cucumbers of the market gardening Groupe Ol...
Sophie Kevany writes in Decanter.com that a group of vineyards in France’s Bordeaux and Cognac regions are exploring whether algae can be used to prevent the fungal infec...
Israeli-based Algatechnologies, Ltd. (Algatech) has become the major shareholder in Supreme Health New Zealand, Ltd. (Supreme) to supply the rapidly growing markets in Ch...
AlgaEnergy, a Spanish biotechnology company specializing in the production and commercial applications of microalgae, and Yokogawa Electric Corporation, a leading provide...
Baillargues, France’s Microphyt, a leading company in microalgae-based natural solutions for nutrition and well-being, has announced a fundraising of €28.5 million (US$32...
Dartmouth scientists have created a more sustainable feed for aquaculture by using a marine microalga co-product as a feed ingredient. The study is the first of its kind ...
Liu Jia reports for the Chinese Academy of Sciences that a “magic soil” made out of modified clays has proven effective in fighting red tide along China’s coastal waters ...
Jack Perry reports for the (Rhode Island) Providence Journal that Matthew Bertin, an assistant professor of biomedical and pharmaceutical sciences at University of Rhode ...
Nestlé has entered into a partnership with Corbion to develop the next generation of microalgae-based ingredients, enabling the companies to deliver sustainable, tasty an...
How did plants make the evolutionary jump from water to land? Scientists think that green algae are their water-living ancestors, but we are not sure how the transition t...
Mazda U.K. has announced that they are currently involved in joint research projects and studies as part of an ongoing industry-academia-government collaboration to promo...