US giant Cargill buys Siamakme Aquatic Feeds

“Thailand is a major producer of fish and shrimp with strong growth potential, and we are delighted about this strategic acquisition because it strengthens our presence in Asia and provides a platform for further expansion in this important market,” Watcharapong Poomongkutchai, managing director of Cargill Feed and Nutrition Thailand, said in a press release yesterday. 

Jeanny Hung, managing director of Siamakme, said: “Siamakme’s ambition has always been to manufacture the best shrimp feeds in Thailand. 

“We feel that under Cargill’s ownership the business will be able to continue this legacy and tap into Cargill’s global expertise to provide Thai shrimp producers with innovative solutions and high-quality products.”

Terms of the agreement were not disclosed. 

Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 142,000 people in 65 countries. 

Effective today, it assumes 100-per-cent ownership and operation of the Siamakme manufacturing facility in Phetchaburi. The facility, which was built in 2001 and expanded in 2008, has a production capacity of 60,000 tonnes of shrimp feed per year. 

Thailand is the world’s second-largest shrimp-feed market. “Siamakme has a strong reputation thanks to its dedicated employees and suppliers,” Watcharapong said. “We are looking forward to working with our new colleagues to serve Siamakme’s existing customers and expand the business to serve shrimp producers throughout Thailand.” 

The acquisition adds to Cargill’s existing shrimp-feed production capabilities in Mexico, Nicaragua, Honduras, Guatemala, Peru, Venezuela, India, Malaysia and Vietnam. With this investment, the company will continue to leverage its global research and development capabilities, which include 15 R&D facilities around the world where researchers develop new and improved feed technologies.

In Thailand, Cargill has been active since 1968 with the opening of a trading office in Bangkok. Today its operations cover the origination, sourcing, processing, handling, distribution and marketing of a wide range of products including agricultural commodities, animal feed, poultry and food, as well as food and beverage ingredients. The company employs more than 12,000 people across nine locations in the Kingdom. 

Siamakme Aquatic Feeds Co, founded in 2000, is an aquaculture-feeds manufacturer specialising in the production of various feeds for marine shrimp, including black tiger shrimp, whiteleg (vannamei) shrimp and freshwater prawns. With its plant in Phetchaburi, the company is at the centre of all major shrimp-producing countries in Southeast Asia.