BioMar Group has taken its next step into the shrimp feed market by acquiring 70% of the Ecuadorian shrimp feed producer Alimentsa.
The acquisition will position BioMar among the leading shrimp feed producers in Latin America creating synergies toward existing business.
"It is our ambition to become a major player within high-end shrimp feed. With the acquisition of Alimentsa we can immediately deliver an attractive value proposition to the shrimp farmers in Latin America,” said Carlos Diaz, CEO, BioMar Group.
Alimentsa is recognised for high-end feed and a professional technical service. That is very much in line with our focus in BioMar.”
BioMar has been servicing Latin American shrimp farmers from its factory in Costa Rica since 2016. The acquisition of Alimentsa will create a solid foothold into Ecuador which is one of the world's leading shrimp producing countries with a volume of more than 450,000 tonnes of shrimp.
The acquisition, which is still subject to approval by competition authorities in Ecuador, represents an investment of US$119 million.
BioMar Group estimates that the market will prove to be very attractive with growth rates of 8 to 12%. Shrimp production in Ecuador is characterised by optimal conditions that allows up to three production cycles per year.
The company has in the last few years been expanding its business significantly. In 2016 it established production in Turkey. It has two new factories planned for the Chinese market in 2017 and a green field factory planned for Australia in 2018.
