Purchase of extrusion facility will expand company’s reach in Australia and New Zealand aquaculture
Nutreco’s aquaculture division Skretting intends to expand its production capacity through the purchase of Ridley’s extrusion facility in Westbury, Tasmania, for AUD54.9 million (US$42.5 million). This is a continuation of Skretting’s long-term commitment to the Australian and New Zealand aquaculture industries.
“We have been producing aquafeed from our Cambridge facility in Tasmania since the 1990s, and today proudly employ over 90 staff,” said Melissa Abbott, general manager of Skretting Australia. “I am pleased that we are expanding our manufacturing capacity to enable us to continue our long-term commitment to clients and partners across the broader Australian and New Zealand aquaculture industries. I am very proud of what our team has, and continues to achieve, and the role that we play in supporting local communities. It’s an exciting day for the Skretting team.”
“Skretting Australia is an important part of our global business,” said Nutreco CEO Rob Koremans. “This is a strategically important investment for us in a growing and leading industry, and we intend to continue to partner with local leaders for many years to come.”
The transaction is subject to approval from the Australian competition and consumer commission (ACCC) which is expected to conclude during 2021.
Ridley said it would continue to supply customers through its expanded facility in Narangba, which is scheduled to be complete in July.
“This will consolidate our aquaculture feed production into one facility, providing a more competitive and lower-cost supply chain to service the Australian and New Zealand aquaculture industry, including our Tasmanian customers,” said Quinton Hildebrand, Ridley’s managing director and CEO.