BioMar Group has completed its acquisition of Alitec Pargua S.A. (APSA), an aquafeed production facility located in Puente Alto, Chile.
Brande, Denmark-based BioMar, a supplier of high-performance feed to the global aquaculture industry, entered an agreement to buy out its joint-venture partner in the project, AquaChile, in March for USD 17 million (EUR 15 million). The agreement was approved by Chile’s competition authorities on 5 June. BioMar took ownership of 100 percent of the company on 6 June.
AquaChile initiated talks over a buy-out after it was acquired by AgroSuper in August 2018. BioMar Chile will continue to provide aquafeed to Agrosuper and AquaChile, BioMar CEO Carlos Diaz said in a release.
“We have during the last years experienced an increasing demand in the market targeting our high-performance feed, functional products and services. We will now have more flexible capacity to meet those demands and we will now be able to plan for future upgrades and expansions of the facility in line with the requirement in the market,” Diaz said.
Diaz said the transaction “is an important step for BioMar Chile,” giving the company access to a “significant volume of flexible production capacity.”
“BioMar Group has by the investment again reinforced the company’s commitment to Chilean aquaculture,” Diaz said.
Photo courtesy of BioMar
