BioMar is strengthening its commitment in Chilean aquaculture

BioMar invests about DKK 110 million in Chile when acquiring the 50% remaining shares in the company’s large JV factory. With the full ownership of the factory BioMar obtains control over significant and flexible production capacity.

Since 2017, BioMar, fully owned by the Danish industrial group Schouw & Co. in Aarhus, has operated 3 factories in the Chile. Two of the factories have been wholly owned by BioMar while the third factory has been operated in a 50/50 joint venture with AquaChile, a Chilean salmon farming company.

The joint venture factory has been producing feed for AquaChile and a number of other customers, but the parties have agreed that BioMar will take over the entire ownership of the factory. The agreement, which is subject to the approval of the authorities, gives BioMar access to a significant volume of flexible production capacity:

“We see a solid potential for growth in the Chilean aquaculture industry and we are by this investment ensuring that we can continue our development of BioMar Chile. BioMar has been one of the leading fish feed producers in Chile for many years and BioMar will by this investment be able to serve a broader customer base as well as plan for future upgrades and expansions of the facility”, explains Carlos Diaz, CEO of BioMar.

The agreement to acquire the remaining part of the factory is a consequence of AquaChile recently being taken over by Agrosuper:

“Our engagement in Chile has been a very important driver for the development of BioMar. The Chilean business contributed with a revenue of about DKK 2.3 billion in 2018, representing more than 20% of the total revenue of BioMar. After Agrosuper acquired AquaChile, this opportunity emerged, creating more commercial flexibility for BioMar at the same time maintaining a fruitful relationship with AquaChile”, says Jens Bjerg Sørensen, CEO of Schouw & Co.

 

For further information, please contact:

• Jens Bjerg Sørensen, CEO, Schouw & Co., +45 86 11 22 22, schouw@schouw.dk

 

About BioMar

BioMar is a leading supplier of high-performance feed to the global aquaculture industry. In 2018, the company generated revenue of DKK 10.3 billion and EBITDA of DKK 713 million. Currently, BioMar operates 14 feed factories and is constructing another two. The factories are placed across the globe in Norway, Chile, Denmark, Scotland, Spain, France, Greece, Turkey, China, Costa Rica, Ecuador and very soon also in Australia. BioMar supplies feed for more than 45 different species and to some 80 countries globally. BioMar is wholly owned by the Danish industrial group Schouw & Co, which is listed on the NASDAQ, Copenhagen.

 

Learn more about the BioMar on www.biomar.com

Additional information on Schouw & Co. is available at www.schouw.dk

 

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