Dias Aquaculture, BioMar Group enters strategic alliance
Dias Aquaculture S.A. has entered into a strategic alliance with Denmark's BioMar Group to strengthen their presence in the Mediterranean market.
Under the agreement, BioMar will supply Dias with fish feed in the upcoming years in a deal worth about EUR30 million (US$42.3 million), with preferential terms of pricing, payment and deliveries.
The companies will conduct common activities in the field of research and development to produce new fish feeds and using alternative raw materials which could lower feed cost and fish production time, and improve fish health and quality.
Dias and BioMar will also cooperate on potential common opportunities that may arise in the Mediterranean aquaculture business.
BioMar has also signed a pre-agreement to acquire 25.17 percent of Dias subsidiary Zoonomi SA shares from the firm for EUR2.5 million (US$3.5 million). Dias has held control of Zoonomi since 2007 and currently owns 51 percent of its shares.
BioMar Group is one of the leading fish feed suppliers worldwide with production facilities in seven countries.
Greece-based Dias Aquaculture owns and operates two hatcheries, 31 fish farming sites, eight modern packaging centres, two distribution centres, one purification and dispatch centre for mussels, one fish feed plant, two trading companies and one fish processing and standardisation factory.
