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The agreement on the acquisition of GenoMar Genetics was signed by Odd Magne Rødseth, director of aquaculture in EW Group (left) and Tor Vikenes, CEO in Norway Fresh.
[press release] EW Group acquires the tilapia breeding company GenoMar Gentics from Norway Fresh.
EW Group, a holding company with core businesses focusing on animal breeding, animal nutrition and animal health, has concluded an agreement to acquire 100% of the shares in GenoMar Genetics, the global leading tilapia breeding company.
GenoMar Genetics is a part of the Norway Fresh Group and the owner of the GenoMar Supreme Tilapia (GST) Strain that has been developed through more than 25 years of professional and innovative selective breeding work in tilapia.
“As a leader in tilapia breeding, GenoMar Genetics has built a strong, scientifically based breeding program with well documented superior performance in the traits important to the industry” stated Odd Magne Rødseth, Group Director in EW Group.
“Combining GenoMar Genetics R&D and portfolio of products with our strong capabilities in breeding and animal health and global reach will enable us to address factors impacting the development of the tilapia industry and reinforce our commitment to the science of resource protection and sustainable global food production.”
"This transaction is positive for the tilapia industry because it makes advanced technologies, research resources, and best practices available horizontally across aquaculture industries around the world," said Tor Vikenes, Chief Executive Officer in Norway Fresh.
“I am pleased that GenoMar Genetics will be part of a team that has a long-term commitment to the tilapia breeding industry. The ability to share leading science, technology and animal husbandry practices among farmed aquaculture species will increase the rate of progress necessary to meet the need to feed a rapidly expanding human population.”
Tilapia is a tropical freshwater fish which is farmed in ponds mainly in Southeast Asia and South America.
Globally, Tilapia has emerged as the fastest growing aquaculture sector and has become a key commodity in the animal protein market. EW Group recently entered the tilapia genetics industry by acquiring Aquabel, a Brazil based breeding and distribution company. These acquisitions form the basis of a genetics and distribution network serving the major production centers in the Americas and South East Asia.
GenoMar Genetics, based in Oslo, Norway with main operation in Luzon, Philippines has invested in a long term selection program to improve farmed tilapia. The program originated in the GIFT program and has a long term association with Central Luzon State University. With a total of 50 employees in Philippines, Malaysia and other countries, the company has an excellent reputation for its consistent investment in breeding and the quality of its products.
To strengthen their respective core businesses, Norway Fresh and GenoMar Genetics have entered into a Supply Agreement and a Cooperation Agreement on global supply of production stock from the GST strain and benchmark programs to document the performance of new product developments.
Oslo, Norway February 28th 2017
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