March 18, 2025

BioMar expands ownership of LetSea to strengthen R&D capabilities

After years of successful partnership in research and development, BioMar has signed an agreement to acquire full ownership of LetSea by purchasing the remaining shares from KapNor.

This move enhances BioMar's commitment to advancing responsible fish feed solutions through increased research and innovation.

With the acquisition, BioMar aims to consolidate its ongoing work in various aspects of innovation, including waterborne feeding, the development of new feed ingredients, and continuous efforts to improve fish performance, health, and welfare.

CEO Carlos Diaz of BioMar Group explained, "This acquisition creates a unique position for BioMar as we secure access to further R&D capacity in Norway. At the same time, we will welcome a team of very competent research staff into our organization, with an already established collaboration."

LetSea, established in 1996, offers a range of controlled trials and projects, featuring facilities from 5x5m tanks to full-scale sea cages. Situated on the Helgeland coast in Dønna, LetSea provides an ideal environment for conducting detailed assessments in controlled cages. These facilities are critical for testing feed and technology across the entire production cycle.

Simon Wadsworth, BioMar's Global R&D Director, commented, "LetSea's unique facilities and expertise complement our existing research efforts, enhancing our ability to innovate and test new solutions under real-life seawater conditions. Our long-standing collaboration has already delivered significant value to our customers, and we look forward to continuing this journey together."

Currently, BioMar owns 34% of LetSea's shares. The acquisition is pending approval from the Norwegian authorities and is expected to be completed by the second quarter of 2025.

- AquaFeed