In a bid to expand global footprint within shrimp feed, Danish group BioMar has recently scooped up a majority share in Viet-Uc, one of Vietnam’s leading seafood groups operating in shrimp and fish hatcheries and shrimp farming.
|Danish group BioMar is using its newly-acquired stake in Viet-Uc tp grow its high-end feed operations |
After a comprehensive due diligence process, BioMar and Viet-Uc have signed an agreement for the former to acquire the majority of the latter's feed business. Through this acquisition BioMar establishes a partnership with one of the leading seafood groups in Vietnam. The ambition is to grow the market for high-end feed products focusing on sustainability, traceability, quality, and performance. The acquisition is subject to customary approvals by the authorities.
“With this partnership, we open an important door into the Vietnamese market, one of the world’s leading shrimp producing countries with a production close to 500,000 tonnes of shrimp. Considering the performance and agility of the Vietnamese shrimp industry during the last decade and not at least during this last year of the pandemic, I am sure the market holds a great potential for growth,” explains Carlos Diaz, CEO of BioMar Group.
Looking at market forecasts and the increasing consumer focus on healthy and sustainable seafood, BioMar expects there will be an increasing market share for high-end feed, ensuring customers can capture value by delivering certified and tailored products towards global retail channels. Building upon the BioMar business model of promoting local market agility in combination with global excellence, BioMar will shortly be able to turn research and knowledge within shrimp feed into new product and service offerings to the Vietnamese market.
|By acquiring a majority ownership in Viet-Uc's feed business, BioMar is ready to pursue a position in high-end shrimp feed in Vietnam |
“BioMar is already a significant shrimp feed producer in South and Central America and it is our ambition to continue the journey to become a major player within high-end shrimp feed. Within the past five years, we have established a significant production of shrimp feed in Ecuador and Costa Rica in partnership with large-scale local farmers. Now, adding Vietnam into the equation will enable us to build a strong relationship both to the market in Vietnam but also to the nearby countries, and at the same time creating benefits from the relation between genetic and nutritional development. Partnering with one of the leading companies within this field in order to develop high-performance feeds, concepts, and value chain collaborations makes a lot of sense in order to promote a positive development of the shrimp industry," concluded Carlos Diaz.
Since 2012, BioMar has been engaged in the development of feed and technical services for shrimp utilising the capabilities of global research and development in combination with trial facilities around the world, most recently through the advanced internal feed trial unit in Ecuador dedicated to shrimp and local trials in Vietnam. Moving into Asia will strengthen the position of BioMar in the global shrimp industry and make it possible to share knowhow and best practice across the continents.