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#2 Solabia acquires microalgae major Algatech

In France, Solabia Group has acquired Israel’s Algatech, a producer of microalgae ingredients for food and cosmetics. Financial terms were not disclosed.

Founded in 1998, Algatech has over 600 km of algae cultivation in Southern Israel’s Arava desert. It is one of the world’s largest microalgae-cultivation facilities. The region provides stable climate and good light year-round, and Algatech exports products to more than 35 countries.

“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 fields of macroalgae and microalgae whose futures are very promising. 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,” says Gérard Josset, CEO of Solabia Group.
More on the story, here.