Nutreco has completed the acquisition of 100% of the shares in Zhuhai Shihai Feed Co. Ltd. (Shihai), a fish and shrimp feed company in China.
Shihai earned €65m in revenue in 2010. Nutreco says that the acquisition will provide Skretting, the Nutreco fish feed business, with a production base in the world’s number one aquaculture feed market, China.
Nutreco’s strategy is to capitalise on its leading fish feed positions by expanding in new regions and into feed for other species, and this acquisition is fully in line with that strategy. The acquisition was announced on 14 February 2011 and was subject to approval of the Chinese authorities, who have now granted their permission.
Shihai supplies a growing market and produced approximately 100,000t of fish and shrimp feed in 2010, when it also commissioned a new feed plant with a capacity of approximately 150,000t. The new plant is constructed and equipped to a high standard and is capable of operating to Skretting specifications. Skretting will continue growing the business, supplying fish feed for species such as shrimp, various marine fish species, tilapia, snakehead and catfish.
Shihai employs approximately 300 people.
