Norwegian aquaculture company EWOS sold for 1.35 billion euros

EWOS, the Norwegian, leading supplier of feed and nutrition for the international aquaculture industry has been acquired by Cargill for 1.35 billion euros.

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With nearly 150 years of experience Cargill provides food, agriculture, financial and industrial products and services to the world.

The agreement entered to acquire EWOS is subject to regulatory approvals, is expected to close before the end of the calendar year.

“This transaction, which is significant and the second aquaculture acquisition Cargill has announced in as many months, is a strategic investment in our long-term growth and evidence of our commitment to the growing aquaculture industry,” said David MacLennan, Cargill president and CEO.

The acquisition gives Cargill entry into the salmon market and will make Cargill’s animal nutrition business a leading player in the growing salmon feed industry, one of the most advanced and professionally managed segments in global aquaculture. As part of the transaction, Cargill will acquire seven feed manufacturing facilities; three in Norway, and one each in Chile, Canada, Scotland and Vietnam, as well as two state-of-the-art R&D centers located in Norway and Chile. EWOS produces more than 1.2 million metric tons of salmon feed for the biggest salmon producers in the world.

“EWOS is a winning company,” said Sarena Lin, president of Cargill’s Feed & Nutrition business. “Adding its industry-leading talent and capabilities as well as its thought leadership in sustainable business practices will be transformational for our aquaculture nutrition business. We are looking forward to welcoming 1,000 highly talented and passionate EWOS employees to the Cargill Animal Nutrition team and strengthening our R&D capabilities and accelerating the pace of innovation to drive strategic long-term growth for Cargill’s animal nutrition business.”

Einar Wathne, CEO of EWOS, said: “Cargill and EWOS will create a new, world-class aqua feed supply capability that will support the growth potential for fish and seafood consumption and create new opportunities for customers and employees alike. EWOS has a strong brand and a deep commitment to high product quality, its people and sustainable aquaculture. Adding Cargill’s vast resources and global reach to EWOS’ leading R&D expertise, will allow the new organization to provide world-class, innovative products and solutions to the global aqua industry.”

Cargill has established a strong track record of acquiring and integrating businesses, unlocking additional value for customers by leveraging the talent and capabilities of acquired organizations in combination with Cargill’s global footprint, scale, breadth and depth of talent, and operational excellence, risk management, and expertise in animal nutrition, and supply chains.

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The acquisition adds to Cargill’s existing aquaculture capabilities in Mexico, Central America, China, United States, Southeast Asia, India, and Ecuador, to which EWOS is expected to contribute complementary expertise and leadership. With this investment, the company will continue to leverage its global research and development capabilities, which includes 15 R&D and Technology Application facilities around the world.

The need for protein is expected to grow by 70 percent worldwide by 2050. Farmed fish and shrimp offers one solution to meeting this demand, and Cargill intends to play a major role in this growing and important market.

Cargill has produced fish feed since 1935, and operate sin all four of the world’s major salmon farming regions: Norway, Chile, Canada, and Scotland. It also operates in Vietnam, producing feed mainly for tropical species.

“We invest continuously in research and development in order to maintain our strong reputation as the leader in our field. This reputation rests as much on the quality of the service we provide as it does on the high quality of our feed products.”

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