U.S. agribusiness firm Cargill Inc [CARG.UL] said on Monday it will buy Norwegian fish feed maker Ewos in a deal worth 1.35 billion euros ($1.50 billion), allowing private equity firms Altor and Bain Capital to cash in after two years’ ownership.
The deal is Minneapolis-based Cargill’s second acquisition within aquaculture in as many months following its purchase of a shrimp feed facility in Ecuador.
“The acquisition (of Ewos) … will make Cargill’s animal nutrition business a leading player in the growing salmon feed industry, one of the most advanced and professionally managed segments in global aquaculture,” the firm said.
Sweden’s Altor and U.S. based Bain’s European branch paid 6.5 billion Norwegian crowns for Ewos in 2013, at the time corresponding to $1.08 billion.
“With access to Cargill’s unique animal nutrition competence and resources, we will be better able to serve customers. This is a natural next step,” Ewos Chief Executive Einar Wathne said in a separate statement.
Closing of the transaction is subject to regulatory requirements and approvals.