Aller Aqua Group has just signed a contract together with IFU (Industrialisation Fund for Developing Countries) to take over 60% of the shares in the family-owned aquafeed factory “Zoocontrol”, located just outside Cairo in Egypt. The family will own 40% of the shares, and will continue in the company, taking care of the day-to-day operations, assisted by Aller Aqua Group.
This is the work of two years of negotiations, market analysis and evaluations, which have finally resulted in a mutual agreement regarding the take-over and through that, the founding of Aller Aqua Egypt.
The CEO of the new company, Aller Aqua Egypt, will be Egyptian, while Aller Aqua Group will provide the chairman of the board.
The company has 42 employees and will be a significant manufacture of sustainable fish feed. This brings the total number of employees in the Aller Aqua Group to approximately 200 people.
Expansive Aller Aqua strategy in the world’s fastest growing food producing industry
Aller Aqua has spent the summer finalizing the most aggressive expansion strategy in the history of Aller Aqua. It aims to double sales of fish feed during the next four years through increased sales and acquisitions.
Aller Aqua Group has three feed mills located in Denmark, Poland and Germany, and sells fish feed to more than 50 countries worldwide. In Germany they also produce protein from vegetable raw materials such as peas and horse beans. With three existing factories in Europe – the latest the DKK 200 million factory in Germany in 2008 – Aller Aqua said it was time to establish itself in businesses on other continents where the growth is significantly higher than in Europe.
50% of the fish eaten in the world today come from farmed fish. With a yearly growth rate of 5-10% this seems to continue in the years to come. Fish farming is today the fastest growing food producing industry in the world.
Egypt is one of the largest markets in North Africa, providing the company with an excellent platform on which to build its business in the region. Through the take-over of the company in Egypt, Aller Aqua is putting action behind its growth strategy.
Production in Egypt
"Egypt is an important market for us. Egypt is the second biggest producer of the Tilapia, only exceeded by China. Due to this fact we have acquired 6000 square meters of land next to the current factory. The building of a new factory section has already begun, which in the future will allow for further expansion for Aller Aqua Egypt".
"We are aware that currently Egypt is going through a turbulent time, but we also know, that the growth potential is enormous – not only in Egypt – but also in other countries close to Egypt. In a market with more than 80 million people consuming large quantities of fish, we look forward to take up the challenge".
"In Egypt we will be able to combine our more than 50 years of knowledge in sales and production with the knowledge of the competent and ambitious local people working for our partner in Egypt".
Signing the contract (from the left: Ms. Kathrine C. Schleisner (IFU), Mr. Hussien Mansour (Zoocontrol), Mr. Henrik Halken (Aller Aqua Group), Mr. Carsten Jørgensen (Aller Aqua Group and seated Mr. Adel Mansour (Zoocontrol)