Algaia Strengthens its Shareholding Structure

SAPEC and its controlling shareholder, AgTech expert, acquire 31% of ALGAIA shares from Demeter & Cap Decisif

PARIS, March 25, 2019 /PRNewswire/ -- Algaia, S.A announced today the acquisition of about 31% of its shares by SAPEC sgps and its controlling shareholder, the Velge family, by purchasing of Demeter & Cap Decisif stakes.

Maabarot Products Ltd, SuperNova Invest and Algaia management maintain their respective stockholding positions.

Algaia SA is a well established global player in the field of specialty seaweed extracts benefiting from unique R&D and production capabilities. Last year, most of its revenues were generated in Food, Personal Care and Nutraceutical applications. Algaia owns a novel and proprietary technology allowing the Biorefinery of brown algae not only into Alginates but also in other valuable compounds such as Biostimulants for the crop nutrition industry. Algaia's facility is strategically located in Britany (France) next to abundant renewable fresh brown seaweed biomass, enabling the company to get sustainable and reliable supply. Algaia is today the world largest buyer of French seaweed, with about 40,000 tons being transformed every year in its Lannilis facility.

"The vast experience of Sapec group and Antoine Velge, his CEO and shareholder, will be extremely valuable to Algaia's development and Board of Directors," commented Eyal Shalmon, Algaia's Chairman of the Board. "Algaia is today uniquely positioned in the marine extract industry. The company benefits from outstanding, focused, R&D and production capabilities, able to co-extract multiple compounds out of the same natural marine raw material. Algaia offers today a large portfolio of algae based solutions for the Nutrition, Health, Cosmetic and Agriculture arenas. Maabarot Products Ltd, SuperNova Invest and Algaia management are all very pleased to welcome Antoine within the company's board of directors. We will establish together new ways to develop the company faster." Eyal added

Since the divestiture in 2016 of its Agro Business (Sapec Agro and Tradecorp) to Bridgepoint (Private Equity firm) for an enterprise value of over 450 million Euros, Sapec's shareholders successfully achieved a public repurchase process to make the group 100% privately owned. Since then, the company pursued a strategy to re-deploy its cash positions.