Founded in Singapore in 2021, SyAqua is one of Ocean14 Capital's portfolio companies.
Photo: SyAqua.
Leading global shrimp broodstock supplier SyAqua has announced its acquisition of Primo Broodstock USA, an advanced shrimp genetics company specializing in disease resistance, in a move intended bolster SyAqua’s portfolio and open new market opportunities.
This strategic acquisition is set to enhance SyAqua’s genetic resources and expand its capabilities in the shrimp farming industry, the company said in a LinkedIn announcement.
"We are thrilled with our latest accomplishment with the acquisition of Primo Broodstock USA, a company known for its pioneering work in the development of Specific Pathogen Free (SPF) and disease-tolerant genetic lines," SyAqua stated, noting that the acquisition will also enable them "to protect strain security with another genetic nucleus and broodstock multiplication facility in the USA."
"Primo was the first to leverage SPF populations out of Ecuador specifically to address disease challenges in major markets like Mexico and China. This acquisition allows us to tap into robust and well-established genetic resources while significantly expanding our current US facilities (Genetic Nucleus and Broodstock Multiplication)," the post continued.
SyAqua says the acquisition will enable the Singapore-based company, which utilises biofloc-based raceway production technologies, to increase its US broodstock production capacity by the end of 2024, with a target production of 230,000 per year.
"This strategic acquisition enriches our genetic resources, aligning with our vision of business sustainability and our commitment to managing the environmental impact of the blue economy, particularly in Asian shrimp farming," SyAqua said.
"Our alliance with Ocean 14 Capital Fund strengthens our dedication to sustainable practices and bringing more innovative solutions in aquaculture."
Founded in Singapore in 2021, SyAqua has two main business lines, firstly a shrimp genetic business selling broodstock, nauplii, and post-larvae, and secondly a nutrition business producing and selling micro-encapsulated feeds for shrimp farming.
In 2022, ocean impact investment fund Ocean14 Capital bought a majority stake in the company, marking the fund's debut investment, noting that 60% of hatcheries in China are SyAqua customers, and that the company is third in market position in genetics provision to the South-East Asia market.