Israeli specialty minerals company ICL Group has agreed to acquire Bartek Ingredients as it continues to broaden its food ingredients operations.
Under the agreement, ICL will purchase around 50% of Bartek Ingredients in an initial phase via a cash investment of approximately $90m.
Completion of this first stage is expected in the first quarter of 2026, subject to customary regulatory approvals and closing conditions.
A second phase, through which ICL would acquire the remaining shares, will depend on the achievement of defined business and integration milestones.
ICL president and CEO Elad Aharonson said: “We are excited to expand our portfolio deeper into specialty food solutions, with the acquisition of Bartek Ingredients – a global market leader in functional food 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.”
Bartek Ingredients is headquartered in Ontario, Canada, and produces food-grade malic and fumaric acid.
The company supplies customers and distributors across more than 40 countries, serving food, beverage, confectionery and bakery markets, alongside personal care applications.
The business operates what it describes as the only vertically integrated maleic anhydride and food-grade malic and fumaric acid production sites in North America.
It currently generates annual sales of about $65m, the press statement read.
Bartek Ingredients is also developing a new production facility, scheduled for completion in 2026, which is expected to materially increase capacity and output.
Bartek Ingredients CEO Andrew Ross added: “ICL’s position as a leading global manufacturer of ingredients and solutions for the food and beverage industry is very synergistic with our extensive acidulants experience.
“We expect to maximise our potential and capture an even larger share of the growing global functional food ingredients market, as we leverage ICL’s global scale, technical expertise – including R&D capabilities – and decades of experience, to provide additional value to customers.”
ICL focuses on food, agriculture and industrial markets.
It employs more than 12,000 people globally and reported revenues of around $7bn in 2024.
ICL’s shares are listed on both the New York Stock Exchange and the Tel Aviv Stock Exchange.
