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AquaStar acquires equity stake in India shrimp producer

Shrimp producer has 'staggering number of farms.'

Seattle-based AquaStar has entered into a joint-venture agreement to acquire an equity stake in major shrimp producer Sagar Grandhi Exports, Ltd of India.

The exact size of the investment was not disclosed but the company characterized it as "a significant investment between two privately held, family owned companies," in a statement sent to IntraFish.

“We are very pleased to enter into this ownership agreement now, as AquaStar has been our exclusive North American and strategic global partners since we first established Sagar Grandhi in 1996, said Sagar Grandhi owners Chella Rao Grandhi and Balaji Grandhi.

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"The global marketplace wishes to work as closely with primary producers as possible, and this partnership allows us to accelerate that process in North America particularly, as well as other parts of the world."

“Sagar Grandhi is strategically located in Chittedu, Nellore District of Andreh Pradesh, a major source for shrimp raw material that cultivates over 10,000 hectares and produces over 150,000 metric tons per year," said AquaStar co-founder and CEO Dirk Leuenberger.

"The staggering number of farms under the Sagar umbrella helps us respond to customer demands consistently on a year round basis, with the highest levels of certification and commitment to quality at all times," he said.

"Now with a second new factory completed, we have tripled our production capacity to exceed 125 metric tons per day. With the added benefits of vertical integration, and diversified processing capabilities that include value added products, shrimp rings, tempura, breaded and battered shrimp we are on a path together to continually add value to our customers and meet their go-forward requirements in every aspect”.

AquaStar and its corporate group are major seafood processors, producers and distributors of seafood throughout North America and Asia with operations on four continents in 12 countries.

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