The Danish company said the deal ends 10 years of successful collaboration with salmon farmer AquaChile and will immediately release important capacity for BioMar.
BioMar acquired its half-share in the joint venture in 2007 when it bought Provimi Aqua.
The move to take full ownership follows AquaChile’s agreed takeover by Agrosuper.
“We are happy to announce this acquisition, which reinforces BioMar Group’s commitment to the Chilean market,” said BioMar chief executive Carlos Diaz.
“With the transaction, BioMar Chile will achieve a better possibility to serve the broader customer base and plan for future upgrades and expansions of the facility. We experience an increasing demand for our high-end products and we need to take the next steps ensuring our ability to deliver during seasonal peaks.”
He added: “We have during the years experienced a fantastic cooperation with AquaChile, and we are happy that the new owners have facilitated a friendly and smooth negotiation to get the deal in place.
“Looking forward we expect to continue delivering feed to AquaChile. We are cooperating in a very positive way and we are determined to maintain a fruitful commercial relationship.”