Danish fish feed producer BioMar Holding A/S announced on Thursday (31 January) that it has completed its previously announced acquisition of Provimi Aqua.
The debt-free purchase price amounted to DKK674m.
Provimi Aqua is a fish feed producer with 295 employees and an annual turnover of approximately DKK1.2bn. In addition to production facilities in Denmark, Spain and Chile, the company also holds a 50% stake in a joint venture with AquaChile.
The acquisition reportedly makes BioMar, currently the world's third largest fish feed producer, equal in size with the world's second largest. The deal will also result in cost synergies within sales and administration, as well as economics of scale within R&D, manufacturing and sourcing.
BioMar, headquartered Aarhus, Denmark, is a fish feed supplier to the aquaculture industry. Following the acquisition the group has some 800 employees and an annual turnover of approximately DKK5bn. BioMar is listed on the OMX Nordic Exchange in Copenhagen.
One British pound (GBP) is worth approximately 10.02 Danish kroner (DKK).