Cargill buys Thai feed manufacturer
Cargill on Thursday announced that it acquired Thai shrimp feed manufacturer Siamakme Aquatic Feeds Co.
With the move, the company hopes to expand its animal nutrition business in the region. Terms of the agreement were not disclosed.
The facility, which was built in 2001 and expanded in 2008, has a production capacity of 60,000 metric tons of shrimp feed annual.
“Thailand is a major producer of fish and shrimp with strong growth potential, and we are delighted about this strategic acquisition because it strengthens our presence in Asia and provides a platform for further expansion in this important markets,” said Watcharapong Poomongkutchai, Cargill Feed and Nutrition Thailand managing director.
“Siamakme’s ambition has always been to manufacture the best shrimp feeds in Thailand,” said Jeanny Hung, managing director of Siamakme. “We feel that under Cargill’s ownership the business will be able to continue this legacy and tap into Cargill’s global expertise to provide Thai shrimp producers with innovative solutions and high-quality products.”
The acquisition adds to Cargill’s existing shrimp feed production capabilities in Mexico, Nicaragua, Honduras, Guatemala, Peru, Venezuela, India, Malaysia and Vietnam. With this investment, the company will continue to leverage its global research and development capabilities, which includes 15 R&D facilities around the world where researchers develop new and improved feed technologies.