SAS Group acquires Afrikelp adding key seaweed biostimulant to its platform

Spain’s Sustainable Agro Solutions (SAS Group) has acquired a majority stake in South African seaweed biostimulant producer Afrikelp, the company said on October 19. Financial terms were not disclosed.

Afrikelp makes biostimulants from Ecklonia maxima, a brown kelp harvested off South Africa’s Atlantic coast, and sells into more than 55 markets. The deal brings SAS Group an exclusive harvesting concession, Afrikelp’s cold-extraction technology and a stronger position in the United States and other export markets.

RMB Ventures, which led a management buyout of Afrikelp in 2019, is the selling investor. Afrikelp’s management, led by CEO Dr. Nicole Hart, will reinvest a significant part of its proceeds and stay with the business.

Afrikelp is SAS Group’s sixth acquisition since 2023, after Biovert, Pevesa Agroscience, Aqua do Brasil, Codiagro and Ceres Biotics. Private equity firm Stirling Square Capital Partners took a majority stake in SAS Group in July 2021. CEO Xavier Mitjavila said the deal advances the group’s plan to build a global agricultural biosolutions business.

Algae-based inputs are drawing new capital, from Afrikelp’s kelp extracts to the PNA microalgae biostimulants joint venture launched in Europe this month.

Source: New AG International