BioMar wraps up acquisition of Chilean feed plant
Aquafeed manufacturer BioMar Group has acquired the 50% remaining shares in the Chilean factory Alitec Pargua. The transfer of shares took place this morning in Puerto Montt, leaving BioMar as the sole owner of the former joint venture.
On Wednesday, the Chilean competition authorities confirmed that the acquisition did not require a pre-merger review. As announced in March, BioMar Group and AquaChile entered into an acquisition agreement that would give BioMar full ownership of the factory, in which AquaChile held a 50% interest.
The acquisition follows the change in ownership of AquaChile, which has been acquired by the Agrosuper group to form the world’s second-largest salmon farmer, which maintains the AquaChile name.
Increasing demand
In a press release, BioMar said the Alitec Pargua transaction ends 10 years of successful collaboration with AquaChile, but that it will continue the commercial relationship with the salmon farmer.
BioMar said the transaction is an important step for the company’s Chilean operation as it will get access to a significant volume of flexible production capacity.
“We have during the last years experienced an increasing demand in the market targeting our high-performance feed, functional products and services,” said BioMar Group chief executive Carlos Diaz.
“We will now have more flexible capacity to meet those demands and we will now be able to plan for future upgrades and expansions of the facility in line with the requirement in the market.”
