Cargill Expands In Thailand With Latest Acquisition
Cargill, Inc., announced Thursday the purchase of shrimp feed manufacturer Siamakme Aquatic Feeds Company, Ltd., in Thailand for an undisclosed sum.
The Wayzata-based company—which operates in the agricultural, financial, and industrial markets—said the acquisition is part of its strategy to expand its “aquaculture” business in key growth geographies.
“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’s feed and nutrition business in Thailand, said in a statement.
Cargill will assume 100 percent ownership and operation of Siamakme. The facility is located in Petchaburi, Thailand, and has a production capacity of 60,000 metric tons of shrimp feed per year.
“Siamakme’s ambition has always been to manufacture the best shrimp feeds in Thailand,” Jeanny Hung, managing director of Siamakme, said in a statement. “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.”
According to Cargill, Thailand is the second-largest shrimp feed market in the world, and the Siamakme facility is ideally located to serve shrimp producers in the country. Prior to the acquisition, Cargill already employed more than 12,000 people across nine locations in Thailand.
The acquisition adds to Cargill’s existing shrimp feed production operations in Mexico, Nicaragua, Honduras, Guatemala, Peru, Venezuela, India, Malaysia, and Vietnam.
Cargill employs 142,000 people in 65 countries and is the largest privately held company in Minnesota based on revenue from its most recently completed fiscal year, which totaled $133.9 billion.