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BioMar completes Chilean Alitec Pargua acquisition

BioMar Group has acquired the 50% remaining shares in the Chilean factory Alitec Pargua, leaving BioMar as the sole owner of the former joint venture.
BioMar completes Chilean Alitec Pargua acquisition

June 9, 2019


 

BioMar Group has acquired the 50% remaining shares in the Chilean factory Alitec Pargua, leaving BioMar as the sole owner of the former joint venture. The Chilean competition authorities confirmed that the acquisition by BioMar of Alitec Pargua did not trigger a pre-merger review. As announced in March, BioMar Group and AquaChile entered into an acquisition agreement that would give BioMar full ownership of the Chilean factory Alitec Pargua, in which AquaChile held a 0% interest. 

The acquisition follows the change in ownership of AquaChile, who was acquired last summer by the Agrosuper group. The Alitec Pargua transaction ends 10 years of successful collaboration with AquaChile. Beyond this operation BioMar Chile continues the commercial relationship with AquaChile. 

This transaction is an important step for BioMar Chile as the company will get access to a significant volume of flexible production capacity. BioMar Group has by the investment again reinforced the company’s commitment to Chilean aquaculture. “We have experienced an increasing demand in the market targeting our high-performance feed, functional products and services during the last years. We will now have more flexible capacity to meet those demands and we will now be able to plan for future upgrades and expansions of the facility in line with the requirement in the market,” said Carlos Diaz, BioMar Group’s CEO.

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