Israel Chemicals to acquire Prolactal
The deal includes Prolactal GmbH and its subsidiary Rovita GmbH, based in Hartberg, Austria and Engelsberg, Germany. It is expected to close in the first quarter of 2015, subject to regulatory approvals from Austrian and German authorities.
Prolactal is a privately held company, which employs 200 people and had annual revenue of about €100m last year. It makes a range of dairy proteins used in beverages, dairy and meat products. ICL said these ingredients, combined with its existing phosphate business, would help open new market opportunities and give customers a wider range of options for texture and stability.
ICL president and CEO Stefan Borgas said in a statement: "We will leverage these capabilities to meet the evolving needs of our existing clients and to enter targeted fast-growing food and nutrition markets, including the dynamically changing markets of China, the Far East and the EU."
Prolactal CEO Johann Tanzer has agreed to remain at Prolactal following its sale and will join ICL Food Specialties' senior management.
He said: "As a subsidiary of ICL Food Specialties, we will be in an advantageous position to strengthen both our financial position as well as our product development and innovation activities. ICL's global distribution network and activities will also provide Prolactal with a broad opportunity to pursue new markets worldwide."
