Nutreco has positioned itself in the global top three shrimp feed suppliers after completing its acquisition of 75% of the shares in Ecuador’s Gisis SA.
The total consideration for the acquisition of 75% of the shares, including corresponding net debt, is approximately €81m.
Nutreco says the acquisition of the shrimp and fish feed subsidiary of the Expalsa group strengthens its aquaculture feed business, Skretting, in Latin America.
Ecuador’s shrimp feed market is Latin America’s largest and the third largest in the world after China and Thailand, and is growing at around 8% annually.
Production, sales and distribution facilities for shrimp and tilapia feed in Ecuador, Honduras and Peru, as well as a joint venture with Regal Springs in Honduras, will provide the company with potential for further growth in the Latin American and Southeast Asian markets.
This ties in with Nutreco’s ‘Ambition 2016 – driving sustainable growth’ strategy.
The company is looking to capitalise on its leading fish feed position and to expand into growth regions important for aqua feeds; notably for shrimp and non salmonid fish species.
The aim is to grow the fish feed business for non salmonid species from 28% in 2010 to 45% of total fish feed volume by 2016. With this acquisition, the non salmonid share of total fish feed volume is close to 40% for 2013.
