Full speed ahead into shrimp: Alimentsa approved to join BioMar
The acquisition of Alimentsa as announced in June is now completed. All necessary approvals have now been obtained and Alimentsa will from 13 September 2017 be a part of 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 possibility to create synergies in regards 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 we through an integration of Alimentsa in BioMar Group 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”, tells Carlos Diaz.
Right now BioMar and Alimentsa are 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 harvested following the acquisition. With Alimentsa as part of 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 119 million USD. BioMar Group estimates that the market will prove to be very attractive with growth rates of 8-12 %.
Alimentsa is a leading dedicated Ecuadorian Shrimp feed supplier operating within the Ecuadorian market. The company has since it was established in 1986 been fully owned by the founding families. Alimentsa delivers feed solutions as well as technical support and training to more than 300 shrimp farmers around the country and generated revenue of approximately USD 75 million in 2016 with total feed sales of approx. 77.000 tonnes. The company has currently 145 employees. The total capacity of the factory is estimated at 120.000 tons and the market share is around 12-15%.