ICL Acquires Bartek Ingredients for Approximately $90 Million

ICL announced it has entered into a definitive agreement to acquire Bartek Ingredients. Bartek distributes its products to more than 40 countries worldwide from its headquarters in Ontario, Canada, and operates the only vertically integrated maleic anhydride and food-grade malic and fumaric acid production facilities in North America. The business currently generates approximately $65M in annual revenue and is in the process of constructing a new production facility, which is expected to be completed in 2026. Upon completion, the new facility is expected to significantly expand capacity and production volumes, supporting increased participation in the global functional food ingredients market, which is expected to exceed $45B in sales by 2030. The acquisition is subject to customary closing conditions, including regulatory approvals, and will be completed in two phases. The first phase, expected to close during the first quarter of 2026, involves a cash investment of approximately $90M for the acquisition of approximately 50% of Bartek. The timing and scale of the investment in the second phase, which will result in the acquisition of the remaining shares of Bartek, are subject to certain business and integration milestones.