The latest food and beverage industry news and trend analysis

Global speciality minerals company ICL Group has entered into a definitive agreement to acquire Bartek Ingredients, the global leader in food-grade malic and fumaric acid.

The acquisition marks a significant expansion of ICL’s portfolio into speciality food solutions, integrating Bartek’s extensive customer base across the food, beverage, confectionery, and bakery sectors.

Andrew Ross, CEO of Bartek Ingredients, highlighted the operational synergies:

Strategic Rationale and Market Context

Bartek is headquartered in Ontario, Canada, and operates the only vertically integrated maleic anhydride and food-grade malic and fumaric acid production facilities in North America. These functional ingredients are critical for enhancing flavour profiles, extending shelf life, and improving quality in both food products and personal care applications.

Currently generating approximately $65 million in annual revenue, Bartek is in the process of constructing a new production facility scheduled for completion in 2026. This expansion is timed to capture share in the global functional food ingredients market, which is projected to exceed $45 billion in sales by 2030.

Deal Structure and Timeline

The transaction is structured to be completed in two distinct phases, subject to customary closing conditions and regulatory approvals:

• Phase One: Expected to close in the first quarter of 2026. ICL will make a cash investment of approximately $90 million to acquire roughly 50% of Bartek.

• Phase Two: The acquisition of the remaining shares will occur subsequently, with the timing and scale of the investment contingent upon achieving specific business and integration milestones.

Elad Aharonson, President and CEO of ICL, framed the deal as a key component of the company's refined growth strategy:

"We are excited to expand our portfolio deeper into speciality food solutions, with the acquisition of Bartek Ingredients... This strategic acquisition helps position us for further growth, as we leverage our existing global food presence to expand into other food ingredient segments. This acquisition also advances our recently refined strategy, which focuses on the significant growth engines of speciality crop nutrition and speciality food solutions."