The acquisition will position BioMar among the leading shrimp feed producers in Latin America, creating synergies toward existing business.
The CEO of BioMar Group, Carlos Diaz, said the acquisition is a unique possibility to create synergies in regards to development and delivery of high-end products and services to the Ecuadorian shrimp farmers, complementing the existing BioMar footprint in Latin Americas set by the business unit in Costa Rica.
“It is our strong belief that we through an integration of Alimentsa in BioMar Group will be able to deliver a new high-end value proposition to the Latin American farmers by merging the highly recognized products and technical services from Alimentsa with our innovative and proven approach to R&D, sustainability and feed efficiency. We have in BioMar during recent years built a strong knowledge base within feed for shrimp and we can furthermore contribute with extensive research and experience from other species such as tilapia and marine species,” Diaz said.
Right now, BioMar and Alimentsa are ready to take the first steps in integration. During the fourth quarter, focus will be on connecting the established BioMar units with the employees in Ecuador to build the foundation for the future integration of the new business unit.
“We are confident that synergies can be harvested following the acquisition. With Alimentsa as part of BioMar Group, we can immediately deliver an attractive value proposition to shrimp farmers in Ecuador. We believe that in the future, together with the employees in Alimentsa and the customers, we can develop new product solutions based upon our share interest in sustainability, innovation and cooperation with the customers,” Diaz said.
BioMar Group will take over 70 percent of the shares representing an investment of US$119 million. BioMar Group estimates that the market will prove to be very attractive with growth rates of 8-12 percent.