ICL acquire Prolactal

ICL to acquire Prolactal

4:26 AM, 29th January 2015
ICL to acquire Prolactal

TEL AVIV, ISRAEL: Israel Chemicals Ltd (ICL), a global manufacturer of products that fulfill essential needs in the agriculture, processed food and engineered materials markets, announced that its ICL Food Specialties business unit has entered into a share purchase agreement to acquire Prolactal GmbH, and its subsidiary, Rovita GmbH (collectively, Prolactal). Prolactal, based in Hartberg, Austria, and Engelsberg, Germany, is a leading European producer of dairy proteins and other ingredients for the food and beverage industries. The transaction is expected to close during the first quarter of 2015, subject to the receipt of regulatory approvals in Austria and Germany.

ICL expects the acquisition to contribute substantial sales and marketing synergies in several regions worldwide where there is growing global demand for texture and stability ingredients.

“ICL’s Board of Directors views the Food market as one of the core markets in which we are determined to grow our business significantly. The Company’s ‘Next Step Forward’ strategy, which was approved by the Board in Spring 2013, sees major growth potential for the Company deriving from ICL’s use of its various raw materials together with technologically advanced solutions to create modern, healthy foods and beverages, and to enter new, growing markets. We believe that the acquisition of Prolactal will serve these purposes, and will provide us with an opportunity to expand synergies within ICL resulting in important added-value for the Company,” said Nir Gilad, Chairman, ICL.

 

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