Nutreco acquires fish feed company in the United States
Nutreco's fish feed subsidiary, Skretting, has bought Nelson and Sons, Inc., the manufacturer of Silver Cup fish feed for EUR 11 million. The company has two production facilities near Salt Lake City, Utah.
Nelson and Sons is a family owned business with 50 employees that started to produce fish feed in 1956. The company produces for the freshwater markets in Western USA, including a significant share in the Idaho Trout business. The company is also active in Canada and Mexico.
The total annual fish feed production is around 30,000 MT. The company has annual revenues of approximately EUR 17 million. The profitability is in line with the profitability of Skretting's fish feed business.
Knut Nesse, Managing Director Skretting, said, "Silver Cup is a well respected name throughout the US, Canada and Mexico for its quality specialty feeds. Further, Silver Cup is active in other areas and product niches than Skretting, so it is a natural extension of our move into new aquaculture feed markets".
This acquisitions fits in Nutreco's strategy to expand the company's fish feed businesses in new markets.
Nutreco Holding N.V. is an international animal nutrition and fish feed company that seeks to create added value in major markets through its knowledge of the food production chains, in which it has a selective downstream presence. Nutreco's business groups, each comprising several business units, have over 100 production and processing plants in more than 25 countries and about 9,000 employees.
Nutreco generated revenue of EUR 3,009 million in 2006. Nutreco Holding N.V. is quoted on the Official Market of Euronext Amsterdam and is included in the Amsterdam Midkap Index and the Euronext 150 Index.