Business
Rainer Sturm / pixelio.de 
The the algae-based ingredient market has enjoyed double-digit growth over recent years.
ISRAEL, Herzliya. The Israelian company Frutarom Industries Ltd. has begun 2016 like it finished 2015 – on the acquisition trail – with the purchase of 50% of biotech company Algalo Industries Ltd. from Kibbutz Ein HaMifratz, Israel, for around $2.6 mill. which will fund the building of a facility that will specialise in the cultivation, harvesting and processing of algae. Frutarom will have exclusive worldwide marketing rights for Algalo products.
Short time after Frutarom's largest acquisition of 100% of the shares of Sagema GmbH of Austria and Wiberg GmbH of Germany (including Wiberg's 50% ownership share in a Canadian subsidiary and 51% ownership share in a Turkish company) for around $130.4 mill. the company continues its momentum of acquisitions and implementation of its rapid and profitable growth strategy.
"The investment in Algalo is part of a broad strategic move by Frutarom to reinforce its position and standing as a leading and innovative global supplier of natural specialty products and functional food ingredients in the fields of taste and health which already now make up over 75% of Frutarom's activity,” said Ori Yehudai, President and CEO of Frutarom Group.
Frutarom is one of the world's 10 largest companies in the field of flavours and specialty fine ingredients. The company considers the field of savoury flavours an important growth engine for itself and about 10 years ago embarked on a strategic course of action to significantly build up its global savoury activity by acquiring leading companies in their fields possessing unique solutions and a strong position in strategic target markets.
Among the companies and activities acquired: Nesse, Gewürzmüller and the savoury activity of Chr. Hansen in Germany (in 2006, 2007 and 2009 respectively); EAFI in the UK, the savoury activities of Rieber in Denmark, US-based FSI and the savoury activities of Chr. Hansen in Italy in 2011; Savoury Flavours in the UK and ETOL in 2012; JannDeRee in South Africa and PTI in Russia in 2013; and FoodBlenders in the UK, BSA of Canada with activity also in India, and AMCO in Poland in 2015.
Source: Frutarom