Algaia, S.A., will accelerate development and install a new specialty seaweed extract production unit in its Lannilis (Brittany-France) manufacturing facility dedicated to specialty algae extracts. The company’s main shareholder, Maabarot Products Ltd., infused Algaia with an additional €4 million in equity to support further expansion of its production facility and innovation center located in Saint-Lo (Normandy-France).
Algaia works with local fishermen to harvest brown algae just a few kilometres from its plant in Brittany, France, to ensure a constant fresh local supply of seaweed biomass. The company is committed to control its supply and ensure its customers receive sustainable, high-quality products.
Maabarot Products, Ltd., founded in 1963, is a leading provider of health and nutrition products for the dietary supplements, functional food and beverage and pet food markets. With more than 500 employees across the globe, Maabarot’s mission is to develop, manufacture and supply advanced nutrition and health products that are reliable, safe, and help improve the quality of life for its customers. Over the past several decades, Maabarot has expanded its activity into the vitamin, mineral, and nutrition supplements market through multiple acquisitions.
Algaia previously invested €5 million in 2017/2018 in its facilities in Lannilis, France, to develop new marine ingredients, improve processing, and increase capacity.
“We are pleased with the rapid growth of Algaia,” notes Eyal Shalmon, Chairman of Maabarot Products Ltd. “We continue to strive to position Algaia as a leader in the algae extracts market.”