May 8, 2019
Macco Organiques Canada, based near Montreal, is specialized in mineral salts for the food and pharmaceutical markets (calcium, potassium and sodium salts, in the form of acetates, benzoates and propionates), and has a subsidiary in the Czech Republic, specialized in mineral salts for the nutrition and pharmaceutical markets, with calcium and magnesium chlorides of pharmaceutical grade as its main products.
Macco is specialized in the manufacturing of dust free products of the highest quality for which it has world recognition. The group sells most of its revenues internationally, in 65 countries. Created in 1986 by Robert Briscoe its president and the Canadian Lallemand Inc. group, (one of the world leaders in yeasts and bacteria, with more than 3,500 employees and sales in more than 50 countries across the five continents), the Macco group is one of the world’s main producers of mineral salts.
Isaltis is a French group constituted of Givaudan-Lavirotte in Lyon and Bernardy in Thénioux, and specialized in high purity mineral salts for the life sciences markets (pharmaceutical, nutrition, cosmetics), and for a few targeted industrial applications like pyrotechnics and catalysis. Givaudan-Lavirotte was created in 1898 and Bernardy in the 1950s. The two were brought together at the creation of the Isaltis group in December 2011 by Isaltis’ management associated with the private equity groups Orium and CM-CIC Capital Privé.
The Isaltis group sells in 70 countries on the 5 continents and more than 85% of its mineral salts revenues are from exports. Thanks to its niche specialties, Isaltis quickly became an important supplier to key accounts of the nutrition and pharmaceutical industries. Isaltis’ main salts are Calcium, Magnesium, Zinc, Iron, Copper, Potassium, Sodium, and Strontium under different combinations and compositions like the glycerophosphates, gluconates, lactates, glucoheptonates, citrates, undecylenates. Their organic matrix gives the Isaltis’ mineral salts a high bioavailability, which guarantees maximum efficiency of absorption by the organism.
The transaction involves Macco taking a majority stake of 75% in Isaltis’ capital, with Isaltis’ historical shareholders retaining a 25% stake to accompany Macco for a few years in the new phase of development and the integration into the Macco group.
With this transaction, the combined Macco / Isaltis becomes the world leader in high purity mineral salts with a strong complementarity in the following areas: (i) geographical, with a presence on several continents and worldwide sales; (ii) commercial and marketing, with a perfectly complementary product range and no overlap; (iii) industrial, with plants in North America, and in Western and Eastern Europe. The objective of the two groups’ management teams is to implement the various synergies identified notably in the commercial and industrial fields.
The development strategy of the enlarged group will be sustained by strong and dynamic fundamentals of the underlying life sciences markets, for which mineral salts are essential to the proper functioning of the organism and its metabolism: muscular system, cardiovascular system, hormonal regulation, immune system. Robert Briscoe, Macco chairman declares: “The acquisition of Isaltis is a strategic opportunity for the Macco group to constitute a world leadership position for a range of very high quality mineral salts serving the dynamic life sciences markets, with a strong complementarity between the two groups.”Jean-Michel Alarcon, Isaltis CEO, declares: “We are very happy to become part of the Macco group.
After having built the Isaltis group by bringing together two historic producers of mineral salts, Isaltis managed over the last six years to develop its international footprint and establish a recognized brand in markets with high regulatory requirements. The integration with Macco is a unique opportunity to amplify our development by benefiting from the Macco group’s know-how, competence, and resources. “
Guy Van Der Mensbrugghe, Orium’s chairman, declares: « The arrival of the Macco group in Isaltis’ shareholding allows Isaltis to reach a critical size and to have the means to accelerate its development, on the basis of a fast growing current order book. Numerous synergies opportunities will also be investigated between the two groups.”