BioMar buys big share of shrimp market

FEED company BioMar has taken another big step into the shrimp feed market by acquiring 70 per cent of the Ecuadorian shrimp feed producer Alimentsa.
The acquisition will position BioMar among the leading shrimp feed producers in Latin America, which it has been supplying since 2016 from its factory in Costa Rica.
Ecuador is one of the world’s leading shrimp producing countries with a volume of more than 450,000 tonnes of shrimp.
‘It is our ambition to become a major player within high-end shrimp feed,’ said BioMar CEO Carlos Diaz.
‘With the acquisition of Alimentsa we can immediately deliver an attractive value proposition to the shrimp farmers in Latin America and we believe that we in the future – together with Alimentsa and the customers – can develop new product solutions based upon shared interest in innovation, cooperation, sustainability and performance.’
The acquisition represents an investment of $119 million and BioMar estimates that growth rates in the market will be eight to 12 per cent.
Shrimp production in Ecuador is characterised by optimal conditions that allow up to three production cycles per year.
The farming densities are quite low, allowing much better and sustainable sanitary conditions. Alimentsa holds a market share around 12-15 per cent.
‘We have during the last years expanded the business significantly,’ said Diaz. ‘In 2016 we established production in Turkey.
‘In 2017 we are forming a solid footprint with two factories in the Chinese market and in 2018 we have planned and announced the construction of a green field factory in Australia.
‘Now we are taking a leap into the world of shrimp. All of those initiatives are a part of our growth strategy: Shaping the Future.
‘We believe in being 100 per cent devoted to aquaculture and we have clearly stated that we strive to be innovators dedicated to an efficient and sustainable global aquaculture.’