Algaia completes alginate acquisition

# acquisition # Start-Up

Share to

Algaia completes alginate acquisition

Source：ingredientsnetwork

Publish time：2017-01-16

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.”

- END -

Favorites

Share to

Food Drying Equipment Industry Analysis: Characteristics, Uses and Market Trends

It's about "supermarket fresh"! The new national standard has been implemented →

Content Disclaimer:

All original articles and edited content published on this platform are copyrighted by the platform. Any reproduction or citation must clearly indicate the source: www.sjgle.com. Content marked with “Source: XXX (non-platform)” is reproduced from other media or public sources for the purpose of sharing industry information only. Such content does not represent the views of the platform, and the platform does not guarantee its authenticity or accuracy.