Cargill to acquire Norway’s fish-feed producer EWOS for €1.35bn

US-based agricultural and industrial conglomerate Cargill will acquire Norwegian fish-feed producer EWOS for €1.35bn.

The acquisition of EWOS, who produces more than 1.2 million metric tonnes of salmon feed annually, will help Cargill enter into the salmon market.

As part of the deal, Cargill will acquire seven feed manufacturing facilities, with three in Norway, and one each in Chile, Canada, Scotland, and Vietnam, as well as two state-of-the-art R&D centres located in Norway and Chile.

Cargill president and CEO David MacLennan said: "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."

Cargill is acquiring the company from private-equity firms Altor Equity Partners and Bain Capital, who have owned EWOS since 2013.

The deal, which is subject to regulatory approvals, is expected to be completed by the end of the year.

EWOS CEO Einar Wathne 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’s leading R&D expertise will allow the new organisation to provide world-class, innovative products and solutions to the global aqua industry."

The acquisition is Cargill’s second investment in aquaculture in the last month, and will add to its existing aquaculture capabilities in Mexico, Central America, China, US, Southeast Asia, India, and Ecuador.