PHIBRO Animal Health Corp. announced Jan. 20 that it has acquired the aquaculture assets of AquaVet Ltd., a technical consulting and contract research organization focused on the global aquaculture market.
Dr. Ra'anan Ariav, founder and chief executive officer of AquaVet, will join Phibro as vice president of Phibro Aquaculture and will be tasked with leading the build-out of the newly established business unit.
The initial focus will be on Phibro's current medicated feed additive and nutritional specialty products, some of which are already approved for use or have strong data supporting their potential use in aquatic species, the announcement said.
"The global aquaculture market is the fastest-growing animal protein market in the world. We believe that the addition of Dr. Ariav and his experienced team of aquaculture professionals will enable Phibro to establish a significant presence in the aquaculture market," Phibro president Larry Miller said. "The creation of the aquaculture business unit will enable Phibro to offer aquaculture customers around the world strong technical service and management expertise supporting our existing products while leading the development and introduction of new and innovative animal health solutions for this important market segment."
Ariav will be joined by a team of aquaculture specialists with broad experience in both clinical field work in many countries and product development expertise carried out in AquaVet's development facilities located in Israel.
Phibro Animal Health is a diversified global developer, manufacturer and marketer of a broad range of animal health and nutrition products to the poultry, swine, cattle, dairy and aquaculture markets.