Organic seaweed supplier Seaweed & Co has appointed the advisor to the international chief operating officer at Walgreen Boots Alliance as chairman to drive the next stage of growth at the business.
Mario Patrocollo also took “a small, initial equity stake”, along with future options, in the company.
Patrocollo would help Seaweed & Co realised ambitions in the pharmaceutical and nutritional sectors, the business said.
Based in Whitley Bay on the north-east coast, the company sources wild-harvested, organic seaweed from islands of the Scottish Outer Hebrides and has a production facility on the Isle of Lewis.
The business supplies dried and milled seaweed powder, under its PureSea ingredients brand, to international clients such as PepsiCo, and the Doctor Seaweed’s Weed & Wonderful range to the likes of Boots, Holland & Barrett, Amazon and QVC.
Founder and MD Dr Craig Rose, who is also on the management group of the Scottish Seaweed Industry Association, said he was “delighted” to welcome Patrocollo to the board at a time when the business was expanding into new product sectors and geographic areas.
“His experience in pharmaceuticals, OTC [over-the-counter] and fmcg is second to none, and he has worked with companies from fast-growing start-up challengers to multinationals at the highest strategic levels,” he said.
“His appointment will help us to take advantage of the enormous potential of seaward and position us as market leader across the globe.”
Patrocollo added: “I am looking forward to driving the future company’s growth plans over the next few years.
“I was impressed by the team’s passion, innovation and sustainable way of working and I am confident that together we will be able to carve out a healthy market share of this booming global industry.”
Law firm Muckle provided legal and structuring advice to the company and board surrounding the appointment of Patrocollo. The firm previously advised Seaweed & Co on its last round of investment and board appointments in 2017.
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