Nutreco acquires majority of Brazilian feed company
Nutreco announced today that has acquired a 51% shareholding in a Brazilian animal nutrition and fish feed company.
The Brazilian firm operates in the premix, compound feed, horse feed and pet food market. The company has 2 branches: Fri-Ribe and Dispa, both operating under the umbrella brand Fri-Ribe.
They are an important player in Brazil for shrimp and tilapia fish feed and also have important regional market positions in nutrition for beef cattle, dairy cattle and for horse feed. The companies have five production plants and six sales offices spread across the centre and north-east of Brazil. The companies have 400 employees and annual revenues amounted to EUR 47 million in 2008.
Frank Tielens, Nutreco's Executive Vice-President Specialties: "This acquisition perfectly fits in our growth strategy to further strengthen our global market positions in feed specialties and fish feed. Fri-Ribe's strong management, dedicated people and distribution network offers Nutreco an excellent opportunity for a long-term partnership and brings substantial scope for cross-selling Nutreco's feed specialties. The joint venture also clearly demonstrates our commitment to grow our business in markets with a perspective of structural profitable growth. The animal nutrition market in Brazil is growing at approximately 5% a year on average and this acquisition brings Nutreco an excellent platform to facilitate its expansion in Brazil."
The activities will be continued in a new joint venture named 'Fri-Ribe' providing Nutreco and its partners, the existing owners, with a platform for jointly building a strong position in one of the most important agriculture growth markets in the world.
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