SAS Group Acquires Majority Stake in South Africa’s Afrikelp in Sixth Stirling Square Deal

LLEIDA & CAPE TOWN — Spanish agricultural biosolutions company Sustainable Agro Solutions (SAS Group) has acquired a majority stake in South African biostimulant producer Afrikelp. Financial terms of the transaction were not disclosed.

The transaction sees South African private equity firm RMB Ventures exit its lead investment following a management buyout initiated in 2019. As part of the ownership transition, Afrikelp’s executive management team will reinvest a significant portion of their proceeds alongside SAS Group.

Backed by pan-European private equity manager Stirling Square Capital Partners, which acquired a majority stake in SAS Group in July 2021, the transaction marks SAS Group's sixth bolt-on acquisition. The buyout follows previous platform acquisitions including Biovert (2023), Pevesa Agroscience (2024), Aqua do Brasil (2025), Codiagro (2025), and Ceres Biotics (2026).

Asset Footprint & Bio-Extraction Platform

Founded in South Africa, Afrikelp produces natural biostimulants derived from Ecklonia maxima, a unique kelp species sustainably harvested along the cold Benguela current off South Africa's southwestern coast:

• Product & Extraction Model: Employs a proprietary Cold Micronisation Process (CMP) to preserve bioactive compounds, enhancing root development, crop quality, and stress resilience across more than 45 agricultural crop varieties.
• Global Footprint: Operates across 55+ export markets, supporting SAS Group’s commercial reach across North America, Latin America, Europe, and Asia-Pacific.
• Regulatory Compliance: Maintained under international organic and quality standards, including ISO 9001:2015, Ecocert, and OMRI certifications.

Strategic Rationale & Market Positioning

The buyout strengthens SAS Group’s market positioning in biological inputs and sustainable crop nutrition:

• Regional Expansion: Serves as SAS Group's initial operational entry into the South African market and provides a strategic footprint for broader sub-Saharan African distribution.
• North American Market Access: Leverages Afrikelp’s commercial and regulatory presence in the United States to accelerate SAS Group’s growth in North American row and specialty crops.
• R&D & Supply Integration: Combines SAS Group’s formulation capabilities and global footprint across 100+ countries with Afrikelp’s raw material access and biological research team.

Executive Statements

"We are delighted to announce the acquisition of Afrikelp, which represents a significant step forward in our strategy to build a global leader in agricultural biosolutions," stated Xavier Mitjavila, Chief Executive Officer of SAS Group. "Seaweed has been a key area of our portfolio that we have been looking to expand, and Afrikelp brings a highly differentiated combination of scientific expertise, proprietary extraction technology, privileged access to Ecklonia maxima, and an established international customer base. We look forward to working closely with Nicole and the Afrikelp team, combining their expertise with SAS Group’s broader product portfolio and international presence to accelerate growth, deepen our presence in key strategic markets, and bring these solutions to more customers around the world."

"Joining SAS Group marks an exciting new chapter for Afrikelp," added Dr. Nicole Hart, Chief Executive Officer of Afrikelp. "Our businesses share a strong commitment to science, innovation and sustainability, and SAS Group’s established presence in 100 countries provides a unique opportunity to bring Afrikelp’s products and expertise to a broader range of growers around the world."

"Since our investment in SAS Group, we have supported the business in building a broader, increasingly international platform through sustained organic investment and targeted acquisitions," added Enrico Biale, Partner at Stirling Square Capital Partners. "The acquisition of Afrikelp is another key step forward in this strategy, bringing differentiated technology, scientific expertise, access to the attractive seaweed segment of the biosolutions market, and a best-in-class growth and profitability profile."

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