Cargill to buy Norwegian fish feed maker Ewos for $1.5 bn
18 Aug 2015
US agribusiness giant Cargill Inc yesterday struck a deal to buy Norwegian fish feed maker Ewos from private equity firms Altor and Bain Capital in a €1.35 billion ($1.5 billion) deal.
The proposed deal is the second Cargill has invested in aquaculture over the last month. In early July, Cargill announced a $30 million joint venture with Naturisa to build a shrimp feed facility in Ecuador.
As part of the transaction, Cargill will acquire 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 located in Norway and Chile.
EWOS produces more than 1.2 million metric tons of salmon feed for the biggest salmon producers in the world.
The acquisition gives Cargill entry into the salmon market and will make Cargill's animal nutrition business a leading player in the growing salmon feed industry.
The acquisition adds to Cargill's existing aquaculture capabilities in Mexico, Central America, China, US, Southeast Asia, India, and Ecuador.
''EWOS is a winning company,'' said Sarena Lin, president of Cargill's Feed & Nutrition business. ''Adding its industry-leading talent and capabilities as well as its thought leadership in sustainable business practices will be transformational for our aquaculture nutrition business.''
Einar Wathne, CEO of EWOS, said, ''Cargill and EWOS will create a new, world-class aqua feed supply capability that will support the growth potential for fish and seafood consumption and create new opportunities for customers and employees alike. EWOS has a strong brand and a deep commitment to high product quality, its people and sustainable aquaculture.''
Founded in 1931, Bergen, Norway-based Ewos is a leading supplier of feed and nutrition for the international aquaculture industry. The company operates in all four of the world's major salmon farming regions: Norway, Chile, Canada and Scotland and recently entered the feed market in Vietnam.
