Brande, Denmark-based BioMar, a supplier of high-performance feed to the global aquaculture industry, has purchased the remaining shares of APSA, a Chilean aquafeed production facility, from joint venture partner AquaChile.
BioMar became a partner in the joint venture when it acquired Provimi Aqua in 2007, and since that time, the facility has been producing feed for Chilean salmon farming operations, including AquaChile’s.
BioMar will pay USD 17 million (EUR 15 million) to buy out AquaChile’s 50 percent share in the factory, pending approval from Chilean competition authorities.
“We are happy to announce this acquisition, which reinforces BioMar Group’s commitment to the Chilean market,” BioMar CEO Carlos Diaz said. “With the transaction, BioMar Chile will achieve a better possibility to serve the broader customer base and plan for future upgrades and expansions of the facility. We experience an increasing demand for our high-end products and we need to take the next steps ensuring our ability to deliver during seasonal peaks.”
Diaz said discussions regarding the buy-out occurred after AquaChile was acquired by AgroSuper in August 2018. BioMar Chile will continue to provide aquafeed to Agrosuper and AquaChile, Diaz added.
“We have during the years experienced a fantastic cooperation with AquaChile, and we are happy that the new owners have facilitated a friendly and smooth negotiation to get the deal in place,” he said. “Looking forward we expect to continue delivering feed to AquaChile. We are cooperating in a very positive way and we are determined to maintain a fruitful commercial relationship.”
Currently, BioMar operates 14 feed factories and is in the process of constructing another two. BioMar is wholly owned by the Danish industrial group Schouw and Co., which is listed on the NASDAQ’s Copenhagen market.
Photo courtesy of BioMar
