BioMar has acquired the remaining 30 percent shareholding in BioMar Ecuador, taking full ownership of the business following a joint venture with the Lanec family.
The company said the transaction follows a partnership that saw feed volumes in Ecuador increase fourfold between 2019 and 2024. The Lanec family will continue as a strategic commercial partner.
BioMar said BioMar Ecuador is planning to expand production capacity from 300,000 tonnes to 410,000 tonnes during 2026. The increase will be achieved through debottlenecking and the installation of a new pelletised feed line. The expansion project is expected to be completed in the third quarter of 2026.
In parallel, BioMar is working on plans for a further 200,000 to 300,000 tonnes of additional capacity, which would require changes to site infrastructure. The company said this potential expansion would include a combination of pelletised and extruded feed lines and could be initiated in the first half of 2026.
Chief executive Carlos Diaz said BioMar sees continued growth potential in Ecuador’s shrimp farming sector and has, in recent years, expanded its customer base from primarily small and medium-sized farmers to include long-term collaborations with some of the country’s largest producers.
BioMar did not disclose the financial terms of the acquisition.