Cargill announced that it has completed its acquisition of EWOS, a Norway-based supplier of salmon feed and nutrition, for 1.35 billion euros.
In August, Cargill entered into an agreement with Altor Fund III and Bain Capital Europe III to acquire EWOS. The deal closed Oct. 8 after meeting all necessary country regulatory approvals.
EWOS produces more than 1.2 million metric tons of salmon feed for the largest salmon producers in the world. It operates in the four major salmon farming regions: Norway, Chile, Canada and Scotland. In addition EWOS has entered the feed market in Vietnam.
The acquisition makes Cargill's animal nutrition business a leading player in the growing salmon feed industry.
EWOS chief executive officer Einar Wathne will continue in this role under Cargill ownership and also will become president of Cargill Aqua Nutrition. Wathne will be based in Bergen, Norway.
"Through our joined efforts, we will bring together the world's leading talent in research, nutrition and sustainable innovation to develop nutrition solutions that enable farmers to continue to grow their supply of healthy seafood, improve food production efficiency and reduce their impact on the environment," Wathne said.
"Under Cargill ownership, we will continue to have a significant presence in Norway, Chile and other countries across the world. Norway and Chile are the globally leading salmon markets where we have built sophisticated competence and state-of-the-art research centers," he added.
Cargill will now have an additional 1,000 employees across seven feed manufacturing facilities — three in Norway and one each in Chile, Canada, Scotland and Vietnam — as well as two state-of-the-art research and development centers in Norway and Chile.