BioMar completes Alimentsa acquisition
BioMar has completed its acquisition of Alimentsa, positioning the group amongst major shrimp feed producers in Latin America.
BioMar Group will take over 70% of the shares of the Ecuador-based company in a USD119m investment.
Carlos Diaz, CEO of BioMar Group, said the acquisition would complement 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.”
Positive growth rates
He added that BioMar has built a strong shrimp feed knowledge base in recent years, strengthened by extensive research and experience from other species such as tilapia.
BioMar Group estimates growth rates of 8-12 % in Latin America’s market.
The companies will spend the coming months integrating, while during Q4 2017, said Mr Diaz, the focus will be on connecting the established BioMar units with the Alimentsa employees in Ecuador to build the foundation for the future integration of the new business unit.
Mr Diaz explained: “We are confident that synergies can be harvested following the acquisition. With Alimentsa as part of BioMar Group, we can immediately deliver an attractive value proposition to shrimp farmers in Ecuador.
“We believe that in the future, together with the employees in Alimentsa and the customers, we can develop new product solutions based upon our share interest in sustainability, innovation and cooperation with the customers.”
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