The Irish company Marigot, owner of the Icelandic company, Íslenska kalkþörungafélagið in Bíldudalur, has acquired 60% of the innovation company Marinox which has been owned by Matis and two employees at Matís. Marigot’s purchase will be in the form of a new share issue.
Matís has built a strong reputation in the field of research and innovation in food and biotech industry. Most often this work has involved underutilized resources, such as seaweed and kelp, which, incidentally, have been the core of activity at Marinox. Matís has participated as owner in ventures which have attempted to utilize resources which otherwise would not have been exploited by others. By supporting its employees’ innovative work in this manner, Matís attempts to encourage its researchers to take their work further, to develop valuable products. This has been a common praxis world-wide for years, also in Iceland, especially in the academic community.
Friðrik Friðriksson, Matís’ Chairman of the Board and
Frank O’Sullivan, Financial Controller at Marigot Ltd.
While it has been Matís’ mission to assist entrepreneurs and small business through their early stages of valuable food- and biotech business development, it has never been the intention to remain as shareholder for an extended period in such start-ups. Matís only assist entrepreneurs and start-ups for as long as such assistance in necessary and then exits the partnership by selling its shares. A good example of such procedure is the innovation company Iceprotein in Sauðárkrókur, which was sold to FISK-Seafood ehf in 2012.
Now time has come to sell the shares in Marinox’s production division, i.e. the part of the company that deals with research and processing of valuable products from marine resources; seaweed and kelp. The company will operate under the same name but with a new majority shareholder. Concurrent with the increase of share-capital in Marinox, the skin care product line, UNA Skincare, will be placed in a new company which will temporarily be owned by current Marinox shareholders. Subsequently, new investors in UNA Skincare will be sought.
Having reached this stage, Matís is pleased and optimistic that new opportunities will prevail themselves to Marinox and Matís through the co-operation with the Irish company, which has already earned a favourable reputation in Iceland.
Further information will be provided by Friðrik Friðriksson, Matís’ Chairman of the board, (+354-896-7350).