BioMar's shrimp feed production facility in Ecuador.
Photo: BioMar.
BioMar Group has acquired the remaining 30% shareholding in its Ecuadorian subsidiary, giving it full ownership of BioMar Ecuador, while retaining a strategic commercial relationship with its former local partner, the company has announced.
According to the aquafeed company, which confirmed the acquisition today, the transaction follows a partnership with the Lanec family in Ecuador that began in 2019. BioMar says its production volumes in Ecuador quadrupled between 2019 and 2024, a period during which the Danish-headquartered group also expanded its presence in the country’s shrimp farming industry.
Carlos Diaz, CEO of BioMar Group, said partnering with Lanec had played a key role in the company’s market entry and ongoing growth in Ecuador.
“It has been an incredible journey together with Lanec. We were new to the Ecuadorian world of shrimp when entering the joint venture, and Lanec has been instrumental contributing to designing future product solutions while adapting our research to accelerate growth in Ecuador,” Diaz said via a press release.
“We are grateful to the family and team behind Lanec for being committed to a true partnership characterised by trust and innovation through the years of building the business together. We are extremely thankful that we can continue as strategic commercial partners going forward. I am sure, we will continue to contribute to mutual development,” he added.
Alongside the acquisition, BioMar announced plans to increase production capacity at its Ecuadorian facility from 300,000 tonnes to 410,000 tonnes during 2026. The company explained this will involve "debottlenecking" in addition to installing a new line for pelletised feed, and said it expects this phase of the project to be completed in the third quarter of 2026.
BioMar is also planning a further capacity increase of between 200,000 and 300,000 tonnes, Diaz said, with planned changes to site infrastructure including "additional pelletised and extruded feed lines".
Diaz said the decision to invest in this expansion reflects BioMar's belief in strong long-term growth prospects for shrimp farming in Ecuador, and emphasised the company's trajectory in the country.
“During the last years, we have moved from having a strong foothold among the small and medium size farmers to establishing long-term strategic collaborations with some of the largest farmers in the country, collaborating on building innovative feed solutions promoting a more efficient and sustainable aquaculture in Ecuador,” the CEO stated.
BioMar achieved revenue and earnings in line with expectations during 2025, according to figures released by its owner, Schouw & Co, at the end of January. Commenting at the time, Diaz said that despite a "challenging third quarter", the company had "successfully finished the year on a high note," and attributed its performance over the year to "being a feed solution business with exposure to a broad range of species and geographies."
Owners Schouw & Co are still considering a possible stock market listing of the aquafeed group, which it earlier speculated could take place during the first half of 2026.
BioMar, which is currently the world’s third-largest producer of feed for farmed fish and shrimp, previously said it aims to increase feed volumes by an average of 4–6% each year to 2030. The company is also targeting EBIT growth of 8–10% annually over the same period.