Aerial view of Benchmark Genetics' commercial shrimp operations in Fellsmere, Florida, U.S.
Photo: Benchmark Genetics.
Following a thorough review of the company's portfolio and long-term priorities conducted by Benchmark Genetics since it became an independent entity within Novo Holdings' investment portfolio in March 2025, the aquaculture genetics company has now announced its decision to wind down its commercial shrimp operations in Fellsmere, U.S.
According to the company's release, the decision reflects its continued focus on strengthening its strategic position, allocating capital with discipline, and generating long-term sustainable value in its core business areas.
Although not mentioned directly, when it was announced in November 2024 that Benchmark was selling its Genetics business to Novo Holdings, several of the leaders of the Danish holding and investment company already hinted that the salmon farming industry was their main focus.
"Advancements in aquaculture genetics, such as those in the salmon industry, present significant opportunities to improve productivity, resilience, and environmental outcomes," said, for example, Aleks Engel, Partner of Planetary Health Investments at Novo Holdings.
"The investment in Benchmark Genetics provides us with increased exposure to the salmon industry, which benefits from highly attractive underlying dynamics," added Johan Hueffer, Senior Partner of Principal Investments at the investment company.
In announcing now the closure of its shrimp operations in the United States, the company stated that, over the past few months, the management team has conducted a thorough review to refine the company's strategic focus and ensure that resources are directed to areas with the greatest strategic fit and long-term value potential, and as part of that process, explored options to divest its shrimp genetics business.
Benchmark Genetics' shrimp genetics business includes the L. vannamei breeding program in Colombia and commercial shrimp operations in Fellsmere, Florida, U.S., which the company has tried to sell, but, according to the release, despite extensive efforts, it has not been possible to secure a transaction on terms acceptable to the company.
As a result, the company has decided to close its commercial shrimp operations in Fellsmere, the U.S., while deciding to give the L. vannamei breeding program in Punta Canoas, Colombia, another chance, for which the company will continue to explore alternative solutions.
"These decisions enable us to sharpen our strategic focus and concentrate resources where we see the greatest long-term value creation," said Kristian Botnen, CEO of Benchmark Genetics. "While shrimp genetics has been an important part of our journey, we must now prioritise business areas with stronger strategic alignment and higher margin potential," he added.
Botnem, who took office in November, had been named two months earlier, in September. His appointment added to others Benchmark Genetics has been announcing in recent months, such as the strengthening of its finance team in August; the new Board of Directors with Tor Vikenes at the helm, appointed in November; or, more recently, Dr Andrew Preston's appointment as new Head of Product Development.
Regarding its plans, Benchmark Genetics said that it "remains fully committed to being a leading global provider of aquaculture genetics" and, going forward, will focus its main activities on Atlantic salmon genetics and advanced genetics and genotyping services for aquaculture species worldwide.
Nevertheless, the company also said it will continue to support the genetic improvement of shrimp and other aquaculture species through genetics and genotyping services, including genomic tools and analytical support for breeding programs, research institutions, and commercial producers.
Likewise, Benchmark Genetics also said it has already begun a dialogue with affected employees and customers to support them during the transition, safeguard their best interests, and ensure an orderly and responsible process.
Finally, it assured that the company remains committed to acting with transparency and responsibility while carrying out this restructuring and continuing to strengthen its long-term strategic position.
