The mill, which has been run as a joint venture between BioMar and AquaChile for over 10 years, will be entirely owned by the Danish-headquartered aquafeed firm once the US $17 million deal is approved by the local authorities.
BioMar first become involved in the mill in 2007, after acquiring Provimi Aqua. If approved by the authorities, the remaining 50 percent of the shares will give BioMar Group access to a significant volume of flexible production capacity.
“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,” explains Carlos Diaz, BioMar’s CEO.
The deal takes place after AquaChile was acquired by Agrosuper last summer.
“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,” states Diaz.
Despite the deal BioMar Chile stresses that it will continue 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 concludes.