Simris Alg welcomes Steven Schapera to shareholders

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Simris chief executive and founder Fredrika Gullfot has transferred unit rights to beauty industry veteran Schapera in capital raise under way
Simris omega-3 supplements
Simris Alg commercialises omega-3 supplements using fatty acids sourced from microalgae

Fredrika Gullfot, Simris Alg chief executive and founder, has transferred unit rights to an investment entity associated with beauty industry veteran Steven Schapera. The Swedish microalgae-based omega-3 supplements maker seeks to raise SEK 29.1 million in rights issue. Schapera participates in the rights issue with a subscription of 480,000 units corresponding to about SEK 1.3 million.

Steven Schapera has more than 30 years’ experience in founding and building businesses across agricultural, wine, and cosmetics industries. He is regarded as an expert in the global cosmetics industry, having co-founded BECCA Cosmetics in 2001 and exited to Estée Lauder in 2016. He continues to serve as chairman of BECCA Holdings, the original investment entity.

The beauty segment is a hot market for Simris. “Our products already sell in the lifestyle category at the intersection of beauty, health and fitness,” Gullfot told NutritionInvestor.

Beauty ‘from within’

This lifestyle category – sometimes called prestige wellness – is growing with many beauty retailers driven by ‘beauty from within’ offerings and similar products.

“There is strong growth for supplements in the beauty category,” said Gullfot. “Euromonitor reported a whopping 61% growth in the US last year.”

Gullfot revealed that the beauty and fitness communities are Simris’ strongest fan bases. “In both, people do their research carefully, spend on quality, and expect results,” she explained.

Gullfot is the second-largest shareholder in Simris with 4.7% of the stock and 5.8% of the voting rights.

“It has been important for us to open our network to international investors,” said Gullfot. “Both our shareholder structure and market launch benefit greatly from new investors with solid background in our industry,” she added.

Gullfot pointed out that Schapera has a unique mix of skills, network and experience relevant to Simris’ plans. “I am excited to welcome Steven among our shareholders,” she concluded.

Simris currently seeks to raise fresh capital through a rights issue of units at 0.90 SEK per share. The rights issue is secured to 50% through subscriptions and underwriting commitments.

Last day of the subscription period is 8 July 2020.

About the author

Murielle Gonzalez
Editor of NutritionInvestor at Investor Publishing | Website

Murielle Gonzalez is the editor of NutritionInvestor. She is an experienced journalist with 20 years in the media industry, including work at b2b magazines in the UK and Latin America. Murielle holds a Master in Journalism from the University of Westminster and flair for all things online and multimedia storytelling.

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