Cargill's animal nutrition business expanded its investment in the shrimp feed industry by purchasing Siamakme Aquatic Feeds Co., Ltd., a Thailand-based shrimp feed manufacturer. Terms of the agreement were not disclosed.
"Thailand is a major producer of fish and shrimp with strong growth potential, and we are delighted about this strategic acquisition because it strengthens our presence in Asia and provides a platform for further expansion in this important market," says Watcharapong Poomongkutchai, managing director of Cargill Feed & Nutrition Thailand.
"Siamakme's ambition has always been to manufacture the best shrimp feeds in Thailand," says Jeanny Hung, managing director of Siamakme. "We feel that under Cargill's ownership, the business will be able to continue this legacy and tap into Cargill's global expertise to provide Thai shrimp producers with innovative solutions and high-quality products."
Effective immediately, Cargill assumes 100% ownership and operation of the Siamakme manufacturing facility, which is located in Petchaburi, Thailand. The facility, which was built in 2001 and expanded in 2008, has a production capacity of 60,000 metric tons of shrimp feed per year.
The acquisition adds to Cargill's existing shrimp feed production capabilities in Mexico, Nicaragua, Honduras, Guatemala, Peru, Venezuela, India, Malaysia and Vietnam.