Subject to approval by authorities, BioMar acquires the 50% remaining shares in the Chilean factory APSA.
Ending 10 years of successful collaboration with AquaChile, this will immediately release important capacity for BioMar in Chile, BioMar stated in a press release.
Back in 2007, when BioMar acquired Provimi Aqua, the joint venture in the APSA factory was part of the package. Since then BioMar Chile has been producing feed to AquaChile and to various other customers from the JV. If approved by the authorities, BioMar Group will get access to a significant volume of flexible production capacity.
“We are happy to announce this acquisition, which reinforces BioMar Group’s commitment to the Chilean market. With the transaction, BioMar Chile will achieve a better possibility to serve the broader customer base and plan for future upgrades and expansions of the facility. We experience an increasing demand for our high-end products and we need to take the next steps ensuring our ability to deliver during seasonal peaks”, explains Carlos Diaz CEO, BioMar Group.
The acquisition, representing a value of 17 million USD, takes place after AquaChile last summer was acquires by the new owners Agrosuper.
“We have during the years experienced a fantastic cooperation with AquaChile, and we are happy that the new owners have facilitated a friendly and smooth negotiation to get the deal in place. I would personally like to thank the former owners for a collaboration that has helped us grow our position in the market, being the independent, agile feed supplier committed to an efficient and sustainable aquaculture”, states Carlos Diaz.
Beyond this operation BioMar Chile continues the commercial relationship with Agrosuper and AquaChile: “Looking forward we expect to continue delivering feed to AquaChile. We are cooperating in a very positive way and we are determined to maintain a fruitful commercial relationship”, explains Carlos Diaz.