Image: Empagran / FIS
New Cargill acquisition in the shrimp feed sector
Friday, January 13, 2023, 07:00 (GMT + 9)
The Market Power Control Superintendency authorized the transaction between Cargill Aqua Fee.d Spain S.L. and Skyvest EC Holding S.A.
The Superintendency for the Control of Market Power notified that compliance with the provisions of articles 15 and 16 of the Organic Law for the Regulation and Control of Market Power (LORCPM), on October 25, 2022, Cargill Aqua Feed Spain S.L. notified the intention to acquire a majority percentage of shares of the capital of a new company, which will have the contribution of Skyvest Ec Holding S.A. as seller, of the assets of the balanced animal feed production line of its subsidiary Empacadora Grupo Granmar S.A. Empagran.
This transaction implies a change of control, which will grant Cargill Aqua Feed Spain S.L the right and capacity to intervene in the line of business of the company to be formed, therefore, it is configured as an economic concentration operation.
Cargill Aqua Feed Spain S.L is a Spanish company, with a presence in the Ecuadorian market through Cargill del Ecuador CargillEcuador Cía. Ltda. and Aquacargill del Ecuador Cia. Ltd.
The first of these two companies is dedicated to the purchase and sale of feed for shrimp and cocoa beans, while Aquacargill del Ecuador Cía. Ltda. is dedicated to the manufacture of food for aquatic animals, mainly balanced for shrimp.
Skyvest EC Holding S.A. is an Ecuadorian company whose activity is the purchase and holding of shares, being, in turn, the majority shareholder of Empacadora Grupo Granmar S.A. Empagran, which operates in the production, planting, breeding and harvesting of shrimp larvae, commercialization of shrimp for export and preparation of balanced food.
The Market Power Control Superintendency mentions that on December 16, 2022, the SCPM First Instance Resolution Commission resolved to authorize the economic concentration operation notified by Cargill Aqua Feed Spain S.L., considering that it does not generate risks for the competitive scheme of the relevant market, production and commercialization of balanced food for shrimp farming at a national level.