Nutreco has successfully completed its acquisition of 75 percent of the shares in Gisis S.A., the shrimp and fish feed subsidiary of the Expalsa group. The transaction has received unconditional clearance by the Ecuadorian competition authority, and takes Nutreco into the global top three shrimp feed suppliers.
The acquisition supports Nutreco's growth strategy to expand its fish feed business in growth geographies and non-salmonid species while maintaining its global number one position in salmon feed, according to the company. Ecuador's shrimp feed market is Latin America's largest, and the third largest in the world after China and Thailand.
The gain specifically strengthens Nutreco's aquaculture feed business Skretting in Latin America, with production, sales and distribution facilities for shrimp and tilapia feed in Ecuador, Honduras and Peru and a joint venture with Regal Springs in Honduras. Revenues in 2012 amounted to EUR 157 million. The total consideration for the acquisition of 75 percent of the shares, including corresponding net debt, is approximately EUR 81 million.
