Algaia Finalized the acquisition of Cargill’s alginates business and a production plant in France following necessary approvals at the beginning this year.
According to an earlier report, the acquisition by Algaia was to speed up the development of natural extracts, in particular seaweed extracts.
Addition of the alginates business from Cargill is said to complement Algaia’s recent acquisition of Alganact, a start-up firm dealing in seaweed biomass valorization.
It also follows the inauguration of a greenfield research and development centre located in Saint Lo, France as well as the hiring of a team made up of business and technical experts.
Algaia boasts of high ambitions in the field of specialty marine ingredients and natural ingredients such as seaweed extracts.
Algaia’s acquisition of Cargill's alginates production plant in Lannilis, Brittany is strategically located adjacent to a massive seaweed site that gathers more than 60,000 tons of fresh biomass on an annual basis.
With the help of Cargill and the Brittany region, all that is necessary will be done to guarantee a smooth transition at customers and to maintain the direct and indirect employment rates at the location.
Eviagenics acquired Alganact to form a new combined entity named as Algaia in June last year. The new name reflects the company’s vision to become a leading player in the field of natural components extracted from marine algae.
Eviagenics is an innovative privately owned company belonging to three well established French Venture Capital firms. It started as a white Biotech company in 2010 but broadened its scope in 2014 in the field of seaweed and other natural extracts.
(By our own staff)