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Algaia, AIDP team up to market former’s alginates to Canada, US, Mexico
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Monday, 29 May, 2017, 08 : 00 AM [IST]
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Paris
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Algaia, S A, and AIDP, Inc have entered a distribution partnership to market Algaia’s alginates and other specialty marine-based solutions to customers in Canada, the United States and Mexico.
This distribution partnership begins on June 1, 2017. The arrangement was finalised at Vitafoods in Geneva, where several companies of Algaia’s main shareholders, Maabarot Products Ltd and Demeter, presented.
“This distribution partnership is a major step forward for Algaia, supporting our growth ambitions for the United States, Canada and Mexico,” said Fabrice Bohin, chief executive officer, Algaia.
“We are anticipating double-digit growth. Together with AIDP, we will be able to provide expanded service to our customers requiring alginates, while developing new opportunities for our algae-based ingredient line,” he added.
Paris-based Algaia specialises in a wide range of algae-based ingredients. The growing company boosted its product offerings at the beginning of this year through its acquisition of Cargill’s alginates business and manufacturing plant.
The company was completely reinvented in 2015 and has, since, experienced rapid growth with its first merger and acquisition (M&A) move in April 2016.
This was followed by opening a new research and development (R&D) centre in Saint-Lô in October.
Algaia concluded its Cargill alginate acquisition in January 2017. Also during the first quarter, the company invested €3 million in its manufacturing facility in Lannilis, France, located next to a large resource of fresh seaweed biomass.
“We utilise fresh seaweed harvested predominantly from the Brittany coastal areas, next to our facility, applying our Green Refinery concept to comply with customer and consumer demands for high-quality products derived from sustainable natural sources,” added Bohin.
Founded in 1996 and headquartered in the City of Industry, California, AIDP has extensive experience in sourcing and developing innovative solutions.
“We are delighted that AIDP will represent Algaia in the region, and that we can add Algaia’s portfolio to our offering of products focused on meeting consumer demand for natural, wellness and health products,” said Mark Thurston, president, AIDP Inc.
“Our commitment is to source and supply high-quality ingredients backed by research, and provide proprietary solutions that address formulation challenges in mainstream food, functional food and beverages,” he added.
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