The owners of Enzymotec sell shares worth $116 million

 

Galam Group Limited owned by Kibbutz Ma'anit has sold a quarter of its shares in Enzymotec, thereby reducing its holding from 30% to 22% . The company 's sales grew by nearly 60 % in the fourth quarter of 2013 compared with the previous year and reached 18.5 million for the three months period. The operating profit increased by nearly 50%. The company forecasts that 2014 revenue will reach $88 to $95 million.

Enzymotec  was valued at $ 546 million after it raised $ 63 million in September 2013. The sale of part of the company is expected to reach an amount of $116 million, of which about $46 million will be paid to Galam Group and the balance to other shareholders.


The share price has nearly doubled from its IPO price of $14 in September 2013. Since the offer for sale was announced Enzymotec's share price has risen 8%, reflecting investors' confidence in the company's future and ability to maintain its growth rate.


Enzymotec is a developer of lipid-based products and solutions for the nutritional and healthcare markets,

Several Enzymotec executives also participated in the offer for sale. President and CEO Dr. Ariel Katz sold shares for $4.6 million, while  Deputy chairman Yoav Doppelt  sold shares for a gross $1.4 million.


The leading product of the company – InFat -  is used as an additive to milk substitutes , and is a vital component and a parallel additive to human milk . Another product contains omega- 3. Other supplements in this line of products are designed for the treatment of memory disorders in adults and for the treatment of excess dietary lipid ( triglycerides) associated with an increased risk of heart disease.

Kibbutz Industries Association Leonardo Da-Vinci 13, Tel-Aviv 61400, Tel: 03-6955413, Fax: 03-6951464, E-Mail: kia@kia.co.il