Nutreco sees increase in earnings

Nutreco on Monday announced that it agreed to acquire a 100 percent interest in Bellman Nutriçao Animal Ltda, a Brazilian producer of farm minerals, concentrates and supplements for ruminants.

The acquisition — which comes five months after the company purchased a 51 percent share in Fri-Ribe, a Brazilian fish feed and animal nutrition company — further increases Nutreco’s presence in Brazil, one of the world’s fastest-growing agriculture and aquaculture markets and the world’s third-largest animal nutrition market, with annual growth of 4 to 5 percent.

The Bellman acquisition is part of Nutreco’s campaign — dubbed “Ambition 2016: driving sustainable growth” — to expand its presence in fast-growing regions such as Latin America, Russia, China and Southeast Asia.

Bellman operates a production facility in Mirassol, in northwest São Paulo state, and will open a second facility in Mato Grosso later this year. The company employs 165 people and had 2011 sales of EUR 37 million.

“Following our recently announced increased shareholding in Nutreco Fri-Ribe, we are excited about the acquisition of Bellman,” said Jerry Vergeer, Nutreco’s COO of animal nutrition. “The company has a very strong reputation and market position, delivering value added products and services to its customers. Its activities, geographical presence and product proposition are fully in line with our strategy Ambition 2016.”

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