Colruyt invests in seaweed producer

Belgian retailer Colruyt Group increases its interest in seaweed platform The Seaweed Company, saying it sees great potential in seaweed as a sustainable ingredient in food and as an alternative to plastic in packaging.

Versatile and sustainable

Colruyt Group has been a minority shareholder in The Seaweed Company since 2019, but has decided to expand its stake to 21 %. The company sees a lot of potential in seaweed: “It is enormously versatile and can be processed in food, animal feed, fertilisers and even as an alternative to plastic in packaging”, it says through director Stefan Goethaert, whose responsibilities at Colruyt include managing the food production companies.

“We have decided to invest more in The Seaweed Company because we are convinced that they can offer sustainable solutions in various sectors, from agriculture to packaging.” Both companies are exploring how they can work more closely together to make agriculture and food supply more sustainable. Colruyt is currently building a sea farm near Nieuwpoort that will eventually grow oysters and seaweed in addition to mussels.

The Seaweed Company, founded in 2018, produces seaweed in its own seaweed farms in India, Ireland, Morocco and the Netherlands and processes it into food supplements, personal care products and agricultural products.