News 480 views last update:6 Aug 2012

Provimi sells fish feed activities to Biomar

The Provimi Group has reached agreements to sell the majority of its fish feed activities to Biomar. This transaction will allow Provimi to better focus on its core animal nutrition and pet food businesses.

The agreements reached with Biomar concern Provimi's fish feed activities in Chile, Denmark and Spain, which represent about 90% of the Group's fish feed business, or close to 10% of the Group's annual consolidated sales. The divestment in Chile includes the sale of a 50% share in the joint venture with AquaChile, which is subject to first right of refusal. Provimi will continue to sell its premixes to the fish feed industry. The transaction is subject to approval of the competent antitrust authorities.

Provimi's CEO Ton van der Laan commented: "We consider the sale of our fish feed activities the best response to the fast changing market environment of the fish feed industry. I am convinced that these fish feed activities will benefit from the expertise of the Biomar Group. Provimi will continue its successful strategy by concentrating its efforts and investments in growth opportunities in its core businesses, animal nutrition and pet food activities."

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