March 15, 2019
BioMar Group's acquisition reinforces commitment to Chilean aquaculture
BioMar has acquired 50% of remaining shares in Chilean factory APSA, ending 10 years of successful collaboration with AquaChile, as well as obtaining an important capacity for BioMar's business in Chile.
The acquisition, representing a value of US$17 million, took place after AquaChile was acquired by new owners Agrosupe last summer.
The transaction is subject to approval by authorities. Once the acquisition is approved, BioMar Group will get access to a significant volume of flexible production capacity.
Back in 2007, when BioMar acquired Provimi Aqua, the joint venture, which involved the APSA factory, was part of the package, BioMar said. Since then, BioMar Chile has been producing feed at the joint venture and providing it to AquaChile and other customers.
"We are happy to announce this acquisition, which reinforces BioMar Group's commitment to the Chilean market. 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," said Carlos Diaz, CEO of BioMar Group.
"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. I would personally like to thank the former owners for a collaboration that has helped us grow our position in the market, being the independent, agile feed supplier committed to an efficient and sustainable aquaculture."
Beyond this operation, BioMar Chile continues its commercial relationship with Agrosuper and AquaChile.
"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," Diaz added.