BioMar seals $119m shrimp deal
Feed supplier BioMar Group has completed the acquisition of Latin American shrimp feed producer Alimentsa, first announced in June.
The Danish company operates factories producing feed for salmonids in Norway, Chile, Denmark, and Grangemouth in Scotland, and for other species in Spain, France, Greece, Turkey, China, and Costa Rica, and the acquisition of Alimentsa will give it a facility in Ecuador.
BioMar Group chief executive Carlos Diaz said the acquisition of the Ecuadorian business complemented the existing BioMar footprint in Latin America set by the business unit in Costa Rica.
“It is our strong belief that we, through an integration of Alimentsa in BioMar Group, will be able to deliver a new high-end value proposition to the Latin American farmers by merging the highly recognised products and technical services from Alimentsa with our innovative and proven approach to R&D, sustainability and feed efficiency," said Dias.
"We have in BioMar during recent years built a strong knowledge base within feed for shrimp and we can furthermore contribute with extensive research and experience from other species such as tilapia and marine species."
BioMar Group will take over 70 per cent of the Alimentsa shares, representing an investment of US$119 million. It estimates that the market will prove to be very attractive with growth rates of 8-12 per cent.
