AquaBounty Technologies acquires Bell Fish Co.
The purchase will provide the company with a land-based, contained aquaculture system to grow AquAdvantage salmon near major demand centers.
AquaBounty Technologies, Inc., Maynard, Mass., acquired Bell Fish Co., including its farming facility in Albany, Ind., for $14 million.
"This acquisition marks an important milestone, and provides the company with its first commercial-scale facility in the United States for growing eco-friendly AquAdvantage salmon,” says Ronald Stotish, chief executive officer of AquaBounty. “This site will enable production of healthy Atlantic salmon, which will not require vaccines or antibiotics, in a sustainable and responsible manner close to domestic consumers."
The purchase will provide the company with a land-based, contained aquaculture system to grow AquAdvantage salmon near major demand centers. The United States currently imports over 92% of the farmed Atlantic salmon it consumes. AquAdvantage salmon will provide the opportunity for a viable domestic aquaculture industry.
Once fully operational, the current facility will have an expected annual capacity of 1,200 metric tons.