Cargill, which is involved in the seafood industry via its aquafeed and aqua-nutrition business, is seeking new deals in the sector, according to CEO Dave MacLennan.
Cargill operates 38 aquaculture feed facilities in 20 countries and is one of the largest suppliers of feed to salmon producers in Norway, Chile, Scotland, the U.S., and Canada, as well as to shrimp and tilapia farmers in China, Vietnam, and Thailand. In an interview with Bloomberg, MacLennan did not answer a question about how close the agricultural products giant is to making a deal, but he said the company is encouraged by rising demand for proteins globally.
“We have an active game board of opportunities that are at various stages of conversation,” he said. “We want to further integrate in the seafood supply chain and we don’t own anything yet, but we are scouting for opportunities.”
MacLennon noted fish consumption is rising at a faster rate than any other protein, including poultry, pork, and beef. He also praised seafood’s healthful qualities.
“I think people are going to continue to consume animal protein,” he said. “We believe they’re going to consume more fish over time. We’re making investments in fish feed and in fish processing. That is a key part of our future strategy.”
Cargill, which enlarged its presence in the aquafeed sector with its purchase of Norway-based salmon feed firm EWOS for USD 1.5 billion (EUR 1.24 billion) in 2015, is also investigating bio-industrials and health and food technology, MacLennon said.
Photo courtesy of Cargill
