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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.

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