Cellulac buys Aer Bio in €1m deal
Published 21/05/2015 | 02:30
Cellulac, an innovative Irish biochemical company headed up by serial entrepreneur Gerry Brandon, has just bought a rival UK firm in a deal believed to be worth about €1m.
The company, Aer Sustainable Energy, specialises in manufacturing bio-based oils, proteins and other valuable products from algae biomass.
Celluac said in a statement that the purchase would add to the company's production capabilities in the bioplastic ingredients and biochemical sectors by adding "cosmetics and aviation biofuel to the core institutional knowledge of the Cellulac technology platform".
Louth-based Cellulac recently announced it is to invest €25m to redevelop its plant in Dundalk in the second phase of a multi-year upgrade.