BioMar completes acquisition Of Provimi Aqua Published: 01 February, 2008
FISH feed company BioMar has completed the acquisition of Provimi Aqua with factories in Chile, Denmark and Spain.
CEO of the BioMar Group, Nils Agnar Brunborg said the acquisition will allow the company to meet its ambitious targets for growth.
“Strategically BioMar will become a much larger company, almost equal in size to the world’s second biggest fish feed producer. The increased scale will make BioMar even more competitive in the future,” he added.
He continued: “We will increase production at the Provimi Dana Feed factory in Horsens by selling more to the fast growing Norwegian market, and thereby at the same time reduce the overcapacity of the Continental European market. In effect we will bring much needed consolidation to the Continental European market. In Spain, the ProAqua factory in Duenas will contribute to strengthening our position in the Mediterranean market area and bring BioMar closer to many important customers.”
“Provimi Aqua is very strong within niches such as feed for eel, emerging species like cod and larval and fry feed. These are areas that are complementary to the business of BioMar, thus the combined company will have a much stronger product offering for customers going forward.”
The acquisition includes a 50% ownership stake in a joint venture with AquaChile. The joint venture factory is located next to BioMar’s factory in Pargua.
The acquisition doubles BioMar’s market share in Chile to reach a turnover in excess of 200 million USD and around 300 employees.
The BioMar group is the third largest supplier of fish feed to the aquaculture industry.
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