Nutreco acquires Tomboy Aquafeed JSC in Vietnam

Nutreco announced that it has acquired Vietnamese fish and shrimp feed company Tomboy Aquafeed JSC.

July 1, 2010

Nutreco announced today that it has acquired 100% of the shares in Tomboy Aquafeed JSC in Vietnam, a reputable and profitable Vietnamese fish and shrimp feed company. With a number four market position, Tomboy Aquafeed is a leading player in Vietnam for shrimp. Recently it invested in a new plant and started producing feed for marine and high value fresh water species such as tilapia, barramundi, snapper and grouper. Tomboy has two plants near Ho Chi Min City and in the Long An Province and employs approximately 300 staff. Annual revenues amounted to EUR 18 million in 2009.

Vietnam is the third largest country in global aquaculture, after China and India, and is one of the world's largest producers of shrimps. With a 3,260 kilometer coast line and the Mekong Delta it has over the past decade experienced strong growth of its aquaculture sector, initially for shrimp, then catfish and recently also for marine fish species. Vietnam is poised to develop into a leading Asian producer and processor of farmed shrimp and marine fish with a strong export focus.

Tomboy Aquafeed produces hiqh-quality feed and has a good brand recognition based on reliability, quality and customer support. Its technical support service is regarded and appreciated by farmers and it has one of the best country-wide distribution networks in Vietnam for fish and shrimp feed.

Knut Nesse, Nutreco Executive Vice-President Aquaculture: "Skretting has a global leading position for the production of high-quality fish feed in a sustainable manner. We want to capitalize on this position and our know-how by approaching new markets with regards to geography and species. This acquisition perfectly fits in our growth strategy to further develop positions in strategic markets with feed for new species such as shrimp. It offers Skretting an entrance in Vietnam and an interesting platform for future growth."

The acquisition of Tomboy Aquafeed fits in Nutreco's strategy to expand its global market positions in feed specialties and fish feed in growth markets.