ICL, a global manufacturer of essential food products, announced that its ICL Food Specialties business unit has inked a share purchase agreement to acquire Prolactal GmbH, and its subsidiary, Rovita GmbH, collectively known as Prolactal.
The transaction is expected to be completed during the first quarter of 2015, subject to regulatory approvals by Austria and Germany.
Prolactal is a privately-held company with annual revenues touching about €100m in 2014. It employs about 200 people and operate two plants making use of state-of-the-art production process technology capable of complete fractionation of milk. Prolactal produces and sells functional dairy proteins used widely in the beverage, dairy and meat industries.
The combined capabilities of ICL's existing phosphate and Prolactal's protein will help ICL Food Specialties to offer innovative, value-added ingredient systems that outperform other available solutions. It also provides new market opportunities.
The combined operation will also enhance ICL's ability to serve its existing clients by providing broader selection of texture and stability ingredients.
ICL anticipates that the acquisition will provide considerable sales and marketing synergies in several regions globally.
Image: Prolactal operates two plants utilizing state-of-the-art production process technology capable of completefractionation of milk. Photo: courtesy of SOMMAI / freedigitalphotos.
