Cargill completes EWOS transaction
Cargill’s deal to buy EWOS sees the company enter the salmon feed business and expand its presence in global aquaculture.
Cargill\'s agreement with Altor Fund III and Bain Capital Europe III made in August to purchase global aquafeed manufacturer for EUR 1.35 billion, was closed this week after meeting all necessary country regulatory approvals.
The acquisition makes Cargill\'s animal nutrition business a leading player in the growing salmon feed industry. With the need for protein expected to grow by 70 percent worldwide by 2050, farmed fish offers one solution to meeting this demand, and Cargill and EWOS aim to play a major role in the market.
\"The combination of Cargill and EWOS is a fantastic, long-term growth story,\" said Joe Stone, Cargill corporate vice president. \"We are creating the global leader in aquaculture nutrition, enabling world-class R&D, delivering innovative products and solutions and creating opportunities for the industry, our customers and our employees through shared values that will propel our growth.\"
Einar Wathne, EWOS chief executive officer, will continue in his leadership role under Cargill ownership and assume responsibility as president of Cargill Aqua Nutrition.
\"Under Cargill ownership, we will continue to have a significant presence in Norway, Chile and our other countries across the world. Norway and Chile are the globally leading salmon markets where we have built sophisticated competence and state of the art research centers,” said Wathne.