BioMar acquires fish feed producer together with Chinese partner

Danish feed producer BioMar acquired a 100 percent stake in Haiwei, a Chinese fish feed producer, together with its partner Tongwei Biotech.

The acquisition will further speed up its expansion in China, the company said. It will add 60,000 metric tons of fish feed to BioMar's overall production output.

In 2015, Haiwei generated revenue of more than DKK 300 million (€40.3 million/$42.7 million) and had 120 employees. BioMar’s share of the investment amounts to about DKK 40 million (€5.4 million/$5.7 million).

Carlos Diaz, CEO of BioMar Group, said the acquisition fits perfectly with BioMar’s strategic focus on the top end of the Chinese aquaculture market.

"We