Netherlands-based The Seaweed Company said it is "taking a huge stride forward" in scaling the company after minority shareholder Colruyt Group raised its stake to 21 percent.

The startup, founded in 2018, produces seaweed at its own seaweed farms in Ireland, Morocco, India and the Netherlands, marketing animal feed supplements, food products and biostimulants, natural products that stimulate growth, quality and resistance of crops.

The Seaweed Company said its aim is to lead the way in putting seaweed as an ingredient on the menu of farmers, consumers and companies in Europe.

Colruyt Group, with more than 600 own stores and around 580 affiliates, distributes food and non-food products in Belgium, France and Luxembourg and manages the Colruyt supermarket chain.

"Our products and concepts have already proven themselves, and we are, therefore, ready to further scale up our company in all aspects and to further increase our execution power,” The Seaweed Company's founder Joost Wouters said.

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