Advertisement

Newsroom

CHINA - Ningbo Tech-Bank acquires Chinese aquatic feed startup for $11m

Ningbo Tech-Bank, which recently acquired Texas-based shrimp broodstock company Primo Broodstock, has acquired Qingdao Great Seven Bio-Technology Co. for CNY 75 million ($10.9m), as it looks to expand in northeast China and the market for coldwater fish feed. “Prior to the deal we didn’t have a production base in north Shandong [Province]. With the acquisition, Great Seven will become our main production base serving the Bohai region.”

March 30, 2017

Ningbo Tech-Bank, which recently acquired Texas-based shrimp broodstock company Primo Broodstock, has acquired Qingdao Great Seven Bio-Technology Co. for CNY 75 million ($10.9m), as it looks to expand in northeast China and the market for coldwater fish feed. 

Great Seven, which manufactures aquatic feed for turbot, Chinese sturgeon, grouper and sea cucumber, was established in 2009 by a university professor at Ocean University of China, China’s leading university for marine research. 

“Prior to the deal we didn’t have a production base in north Shandong [Province]. With the acquisition, Great Seven will become our main production base serving the Bohai region,” Su Lirong, president of Ningbo Tech-Bank’s animal feed division told Fish First, a Chinese trade publication.

Great Seven has in just a few short years developed an \"excellent reputation” for aquatic feed for cold-water fish such as flounder and grouper, said Su.

Source: Under Current News // Original Article

Advertisement

Latest Magazine

Event news