FEED group BioMar has completed the acquisition of the Ecuadorian shrimp feed company Alimentsa, it announced yesterday.
The deal will position BioMar among the leading shrimp feed producers in Latin America and complement its existing footprint in the region, provided by its business in Costa Rica.
BioMar CEO Carlos Diaz (pictured) said: ‘It is our strong belief that through an integration of Alimentsa in BioMar Group we 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.
‘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 and Alimentsa are now ready to take the first steps towards integration, they said, and will focus on connecting employees in Ecuador with BioMar during the fourth quarter.
‘We believe that in the future, together with the employees in Alimentsa and the customers, we can develop new product solutions based upon our shared interest in sustainability, innovation and cooperation with the customers,’ said Diaz.
BioMar Group will take over 70 per cent of the shares representing an investment of $119 million. The company believes the market will prove to be very attractive with growth rates of eight to twelve per cent.