A subsidiary of a Chinese chemical firm has purchased aquaculture feed additive firm Nutriad for an undisclosed sum.
Adisseo, which is owned by China National BlueStar, announced the purchase in December, without releasing details of the deal.
Nutriad, based in Dendermonde, Belgium, is a manufacturer of additives for feed used in aquaculture and agriculture. The multinational company operates four laboratories and five plants located in Belgium, the United Kingdom, Spain, the United States, and China, generating gross sales of about USD 100 million (EUR 83 million) per year.
“The acquisition of Nutriad supports our ambition for accelerating growth of our specialties business in order to address our customers’ needs,” Adisseo CEO Jean-Marc Dublanc said in a press release. “"Together, we will set up an efficient organization, which should allow us to strengthen our global product portfolio’s competitiveness and its overall efficiency. We will also mutually benefit from respective strengths and global commercial coverage for product registration, sales, marketing and worldwide distribution network, with combined sales in more than 100 countries.”
Adisseo has more than 1,900 employees, and serves an estimated 2,600 customers. It is traded publicly on the Shanghai Stock Exchange.
“We are excited to become part of Adisseo because both companies are driven by the same ambition: to deliver the most innovative and practical feed solutions to our customers,” Nutriad CEO Erik Visser said. “We are proud of what we have achieved in recent years, as Nutriad is growing rapidly across species and geographies. By combining our strengths with those of Adisseo, we can jointly accelerate success for our customers.”
