March 3, 2021
BioMar takes majority ownership of Viet-Uc aquafeed business
By acquiring a majority ownership of the Viet-Uc feed business, BioMar announced in a press statement that it is ready to pursue a position within high-end shrimp feed in Vietnam through acquiring a majority ownership of Viet-Uc's feed business.
The move is said to create synergy with BioMar's existing shrimp businesses in Latin America.
Through the acquisition BioMar establishes a partnership together with one of the leading seafood groups in Vietnam active in shrimp and fish hatcheries and shrimp farming. The ambition is to grow the market for high-end feed products focusing on sustainability, traceability, quality, and performance. The acquisition is subject to customary approvals by the authorities.
"With this partnership we open an important door into the Vietnamese market, one of the world’s leading shrimp producing countries with a production close to 500,000 tonnes of shrimp. Considering the performance and agility of the Vietnamese shrimp industry during the last decade and not at least during this last year of pandemic, I am sure the market holds a great potential for growth," explains Carlos Diaz, CEO, BioMar Group.
Looking at market forecasts and the increasing consumer focus on healthy and sustainable seafood, BioMar expects there will be an increasing market share for high-end feed, ensuring customers can capture value by delivering certified and tailored products towards global retail channels.
"BioMar is already a significant shrimp feed producer in South and Central America and it is our ambition to continue the journey to become a major player within high-end shrimp feed. Within the past five years, we have established a significant production of shrimp feed in Ecuador and Costa Rica in partnership with large-scale local farmers. Now, adding Vietnam into the equation will enable us to build a strong relationship both to the market in Vietnam but also to the nearby countries, and at the same time creating benefits from the relation between genetic and nutritional development. Partnering with one of the leading companies within this field in order to develop high performance feeds, concepts and value chain collaborations makes a lot of sense in order to promote a positive development of the shrimp industry," concludes Diaz.
Since 2012, BioMar has been engaged in the development of feed and technical services for shrimp utilising the capabilities of global R&D in combination with trial facilities around the world, most recently through the advanced internal feed trial unit in Ecuador dedicated to shrimp, and local trials in Vietnam.