October 31, 2022
American agribusiness Cargill and its partner Naturisa S.A. entered into an agreement with Skyvest EC Holding S.A. to establish a new joint venture that aims to expand production of shrimp feed in Ecuador.
The firm partnered with shrimp farming company Naturisa in 2015 to construct and operate a shrimp feed manufacturing plant. Demand for high-quality feed has increased since the establishment of the relationship, fueling a need to expand capacity.
Under the new joint venture, Cargill will take on ownership of Skyvest’s shrimp feed plant in Guayaquil, Ecuador. The facility is currently capable of producing 156,000 mt of feed.
“Through this joint venture, Cargill will nearly double its production capacity, and we will improve our capacity to serve our customers and partners,” Angel Gomez, managing director of the company’s aqua nutrition business in northern Latin America, said in a release. “We will invest in this facility and expand our offering of shrimp feeds under Cargill’s Aquaxcel brand to meet increasing demand for feed among our customers.”
The transaction is subject to regulatory approvals. Cargill anticipates the deal will close in the next several months.
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