Israel-based foodtech company Wilk is seeking to acquire Beeio Honey Technologies, a local bee-free honey maker, as part of its expansion plans in the food and beverage industry. The acquisition is subject to a memorandum of understanding signed between Wilk and Beeio Honey Technologies, a subsidiary of Beeio Honey, a publicly-listed start-up. Wilk aims to raise at least NIS3m ($800,000) to finance Beeio Honey Technologies’ operations before completing the acquisition.
Both Wilk and Beeio Honey Technologies share a group of founders, including Yaron Kaiser who serves as the chairman at Wilk and a shareholder at Beeio Honey. According to Israeli news outlet Globes, the two companies have complementary technologies and a close working relationship, making a merger a natural fit. Kaiser expressed confidence in the merger, stating that they have a clear understanding of how to raise capital and penetrate the market.
Established in 2020, Wilk specializes in producing cell-cultured human breast milk and animal milk. With plans to start selling its products by 2026, the company holds several patent applications and an approved patent for laboratory production processes that replicate milk-producing cells. Earlier this year, global food company Danone invested $2m in Wilk, aligning with its mission to support sustainable and health-focused food and beverage businesses.
Wilk has successfully raised $14m from investors, including The Central Bottling Company (CBC), which bottles Coca-Cola products in Israel. CBC invested $1.5m in Wilk, further contributing to its growth trajectory. However, the company reported a loss of NIS17m in 2022.
Wilk’s potential acquisition of Beeio Honey Technologies represents a strategic move to expand its presence in the food and beverage industry. With complementary technologies and shared founders, the merger holds promising prospects for both companies. Wilk’s innovative cell-cultured milk production and strong investor support position it for success in the market.
