October 16, 2015

 

Cargill buys over EWOS in landmark deal
 
 

Cargill has completed its acquisition of EWOS, a global leader in salmon nutrition, for EUR1.35 billion (US$1.54 billion).

 

In August, Cargill entered into an agreement with Altor Fund III and Bain Capital Europe III to acquire EWOS. The deal closed early this month after fulfilling all necessary country regulatory approvals.

 

With the need for protein expected to grow by 70% worldwide by 2050, farmed fish offers one solution to meeting this demand, thereby underscoring the importance of the recent deal. The acquisition positions Cargill's animal nutrition business a leading player in the growing salmon feed industry, one of the most advanced segments in global aquaculture.

 

EWOS produces more than 1.2 million tonnes of salmon feed for the biggest salmon producers in the world.

 

"The combination of Cargill and EWOS is a long-term growth story," said Joe Stone, Cargill's corporate vice president. "We are enabling world-class R&D, delivering innovative products and solutions, and creating opportunities for the industry."

 

Einar Wathne, the CEO of EWOS, will continue in his leadership role under Cargill ownership and assume responsibility as the president of Cargill Aqua Nutrition.

 

In his role, Wathne - based in Bergen, Norway - will serve as a member of the Cargill Animal Nutrition leadership team along with Sarena Lin, the president of Cargill Feed & Nutrition, and David Webster, the president of Cargill Premix & Nutrition.

 

"Under Cargill ownership, we will continue to have a significant presence in Norway, Chile and our other countries across the world," said Wathne. "Norway and Chile are the world's leading salmon markets where we have built sophisticated competence and state-of-the-art research centers."

 

Cargill will currently have an additional 1,000 employees across seven feed manufacturing facilities; three in Norway, and one each in Chile, Canada, Scotland and Vietnam, as well as two state-of-the-art R&D centers in Norway and Chile.

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