TEL AVIV, ISRAEL — ICL Food Specialties has entered into a share purchase agreement to acquire Prolactal GmbH, and its subsidiary, Rovita GmbH. Prolactal, based in Hartberg, Austria, and Engelsberg, Germany, is a producer of dairy proteins and other ingredients for the food and beverage industries. The transaction is expected to close during the first quarter of 2015, subject to regulatory approvals in Austria and Germany.

Prolactal, a privately-held company with annual revenues of approximately €100 million ($113 million) in 2014, produces and sells an extensive range of functional dairy proteins used broadly in the beverage, dairy and meat industries to stabilize and improve the nutrition of beverages and foods processed under a variety of conditions.

The combination of ICL’s existing phosphate capabilities and Prolactal’s protein capabilities will allow ICL to meet the growing demand by consumers for food and beverages with higher protein levels.

Prolactal, which employs approximately 200 people, operates two plants capable of complete fractionation of milk.