Benchmark acquires South American shrimp breeding programme
11 Aug 2016
Benchmark is a leading provider of technical genetic services for all major farmed species Photo: Benchmark Holdings plc
Benchmark Holdings plc has expanded its breeding and genetics offering through the acquisition of a South American shrimp breeding programme.
The acquired business, headquartered in Colombia, operates breeding programmes for the species L. vannamei dominating the global shrimp sector, as well as for the marine finfish species cobia and grouper.
Malcolm Pye, chief executive, Benchmark, said: “This important acquisition strengthens our unique package of products and services that are urgently needed in the aquaculture industry today.”
“It adds the third major aquaculture species, shrimp, to our already strong aquaculture breeding business in salmon and tilapia, and increases our market penetration into the fast-growing shrimp industry.”
Through the acquisition, the group said it will have a unique opportunity to utilise the global distribution channels within its Advanced Animal Nutrition division (INVE Aquaculture), providing significantly broader routes to market for its shrimp genetics.
In addition, it will have the opportunity to cross-sell shrimp broodstock and seed alongside INVE’s existing shrimp nutrition products.
Benchmark is also placing of £47.3m new ordinary shares to fund a number of planned joint ventures and capital projects. These include a joint venture with Salten Stamfisk AS to build a new combined land and sea based production unit in Norway that will produce a year-round supply of salmon eggs from biosecure facilities.
It is also working with a major salmon producer to provide outsourced breeding and genetics services and investing in new technology that is expected to develop new animal health products.
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