Updated:
Original:

Cargill agrees to buy a fish-feed producer, as demand for salmon grows

Author:

Cargill is acquiring a Norwegian fish feed supplier for $1.49 billion, making the company one of the three largest aqua-feed producers in the world.

Cargill announced early Monday morning it entered into an agreement to acquire EWOS, a global leader in salmon nutrition. The deal is expected to close before the end of the year.

“This transaction ... is a strategic investment in our long-term growth and evidence of our commitment to the growing aquaculture industry,” David MacLennan, Cargill president and CEO, said in the announcement.

The deal comes as the demand for salmon grows.

Farmed fish production has topped beef production for the first time in modern history, environmental think tank the Earth Policy Institute reported. Many are turning to the fish (which are high in protein, omega-3 fatty acids and vitamin D) as they aim to eat healthier, the Evening Standard says.

“With the need for protein expected to grow by 70 percent worldwide by 2050, farmed fish and shrimp offers one solution to meeting this demand, and Cargill intends to play a major role in this growing and important market,” Sarena Lin, president of Cargill’s Feed & Nutrition business, said in the announcement.

EWOS specializes in cold-water fish feed, while Cargill's previous ventures into the aquaculture market have been with warm-water fish, including shrimp and tilapia, the Business Journal says.

This is the Wayzata-based company's second aquaculture acquisition over the last month. In July, Cargill announced a joint venture with Naturisa to build a shrimp feed facility in Ecuador.

Bloomberg notes this deal makes Cargill – the world's largest grain trader – one of the top three aqua-feed producers.

This $1.5 billion deal is Cargill's largest purchase since 2011 when it acquired the animal-feed group Provimi.

Next Up

Pexels - beer outside patio brewery

Brewery, taproom moving into former Twin Cities newspaper space

Loons Landing officially signed the lease this week.

Vic Richfield auto theft PD - rectangle crop

Police: Car with dog inside stolen from outside Twin Cities liquor store

They're asking people to be on the lookout for the vehicle.

John Hofer - Chisago County Sheriff's Office

Murder charge filed over inmate's death at Chisago Co. Jail

The man suddenly became unresponsive and died while in a holding cell.

reproductive rights caucus

Minnesota DFL lawmakers form Reproductive Freedom Caucus

The move comes as some Republicans explore proposals to limit abortion access.

Flickr - child wearing mask close up - Nenad Stojkovic

Counties without K-12 mask mandate see sharper rise in child COVID cases

That's according to a new study released Friday by the CDC.

Police lights

Bloomington woman dies in crash on southwest Twin Cities highway

The collision happened just south of the Minnesota Renaissance Festival grounds.

Wikimedia Commons - COVID vaccine, pfizer, shot - Martin G

Pfizer booster shots immediately available for select Minnesotans

118 fully vaccinated Minnesotans have died from COVID-19.

Gisela Medina Sherburne County Jail - 2021.09.23 - crop 2

19-year-old charged alongside Anton Lazzaro pleads not guilty

She's accused of helping the GOP operative traffic underage girls.

Dalvin Cook

Dalvin Cook misses Vikings practice on Friday

Cook suffered an ankle injury during the Cardinals game.

GetMedia (1)

Gallery: Historic church renovated into home is yours for $248,000

The church-turned-home offers an open floor plan in the heart of Howard Lake.

Rep. Glenn Gruenhagen  - YouTube screengrab

MN GOP Rep. spreads voted fraud disinformation, draws rebuke from SoS

The lawmaker cited a video claiming there are more than 1.2 million "missing" votes.

Related