Purchases EWOS for $1.5 billion US
By Diego Flammini, Farms.com
In an effort to expand their reach in the world of agriculture, Cargill reached all the way to Norway to enter the salmon market by purchasing EWOS, a world leader in salmon nutrition that produces more than 1.2 million metric tons of salmon feed for producers.
The deal is worth about €1.35 billion, or about $1.5 billion US.
“This transaction, which is significant and the second aquaculture acquisition Cargill has announced in as many months, is a strategic investment in our long-term growth and evidence of our commitment to the growing aquaculture industry,” said David MacLennan, Cargill president and CEO.
As part of the deal, Cargill will also acquire seven feed manufacturing plants. Three in Norway and one in Canada, Chile, Scotland and Vietnam. Two research and development facilities based in Norway are also part of the transaction.
Both parties are excited about the deal and what it could mean for the future.
“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.”
“Cargill and EWOS will create a new, world-class aqua feed supply capability that will support the growth potential for fish and seafood consumption,” said Einar Wathne, CEO of EWOS.
Cargill’s acquisition of EWOS comes after it announced a $30 million partnership with Naturisa to build a shrimp feed facility in Ecuador.