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BGG and Solix Algredients Combine to form Natural Extract Ingredients Company.

MANews-(C)2009-2018

21 May 2018 - Natural ingredients supplier BGG and algae-derived ingredients provider Solix Algredients, Inc. have joined forces to form a new company supplying functional ingredients sourced from nature to the nutrition, food/beverage, personal care and feed markets, the companies said.

The new company's portfolio of natural extract ingredients originates from three sectors: algae, fruits and plants.

Their product range features patented technologies and ingredients with significant, defined consumer benefits. The portfolio includes natural astaxanthin, DHA Omega-3 fatty acids, Vitamin E tocotrienols, apple polyphenols and fruit/berry extracts.

Headquartered in Fort Collins, Colorado, the new company consolidates BGG, Algae Health Sciences and Solix Algredients into one business with global operating responsibility. Next steps include a Colorado-based, production-scale facility for supercritical carbon dioxide extraction of natural astaxanthin and other products.

Charlie Bowman has been appointed Managing director of the new company. Previously the Chief Commercial officer of Solix Algredients, he brings extensive international and functional ingredient expertise in biotechnology, microalgae and hydrocolloids from leadership roles at CP Kelco, Solazyme, and Cargill.

Austin Maguire has been appointed Co-chairman of the new company. Previously president and chief executive officer of Solix Algredients, he brings wide-ranging global business leadership skills to the new company.

Prior to Solix Algredients, Maguire was president of Calera Corp. and earlier was president of Tate and Lyle Sucralose, where he led the global SPLENDA Sucralose sweetener business.

The new company is a leading B2B supplier of natural extract ingredients that improve consumer wellness. The combined entity operates across the nutrition, food/beverage, personal care and feed markets. Its extensive portfolio of functional ingredients is sourced from nature and originates from algae, fruits and plants. Headquarters are in Fort Collins, Colorado, including sales, marketing, R and D, analytical and quality management personnel.

Country: USA

Sector: Food/Beverages/Tobacco

Target: Solix Algredients

Buyer: BGG

Vendor:

Deal size in USD:

Type: Merger

Financing:

Status: Agreed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U8CO
Date:May 21, 2018
Words:326
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