The acquisition of Ecuadorian shrimp feed supplier Alimentsa as announced in June is now complete. All necessary approvals have been obtained and from 13 September 2017 Alimentsa will be part of the BioMar Group.
The acquisition will position BioMar among the leading shrimp feed producers in Latin America, creating synergies toward existing business.
The CEO of BioMar Group, Carlos Diaz, explains the rationale behind the acquisition as a unique opportunity to create synergies in regard to development and delivery of high-end products and services to the Ecuadorian shrimp farmers, complementing the existing BioMar footprint in Latin Americas set by the business unit in Costa Rica.“It is our strong belief that, through integration with Alimentsa, BioMar Group will be able to deliver a new high-end value proposition to 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,” says Carlos Diaz.
BioMar and Alimentsa are now ready to take the first steps in integration. During the fourth quarter, focus will be on connecting the established BioMar units with the employees in Ecuador to build the foundation for the future integration of the new business unit:
“We are confident that synergies can be gleaned following the acquisition. With Alimentsa as part of the 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,” continues Carlos Diaz.
BioMar Group will take over 70% of the shares representing an investment of USD 119m. BioMar Group estimates that the market will prove to be very attractive with growth rates of 8-12 %.