New York-based agribusiness asset manager AMERRA Capital Management has announced the acquisition of a stake exceeding 90 percent in Marine/Bioproducts (Biomega) for an undisclosed amount.
Founded in 2001 in Sotra, Norway, Biomega is a leading producer of human grade, high quality peptones, proteins, and oils derived from fresh fish by-products sourced from the salmon farming industry.
Without using chemicals, high temperatures, or pH manipulation, Biomega is the only company in Norway to produce food-grade products derived from all parts of the salmon. Traditionally, these by-products were used in the production of lower-grade animal feed, however, Biomega has developed technologies that can create products for the human nutrition and premium pet food markets.
Additionally, Biomega collaborates with Alkymar, a provider of industrial enzymatic hydrolysis solutions founded in 2014 that has proven to be highly complementary in both technology and expertise.
Alkymar’s effective knowledge in biology, nutrition, and engineering has driven the development of not only intellectual property that is complementary to Biomega’s operations, but has enabled partnerships utilizing hydrolysis technology in other agricultural spaces including the poultry industry.
AMERRA plans to harness the potential that these connections provide, through the integration of the two companies.
“A fully automated human grade production process has enabled Biomega to produce a suite of high value products in a cost-efficient way,” said Thor Talseth, managing director at AMERRA. “Combined with Alkymar’s deep competence and AMERRA’s global reach, we will have a strong foundation to build a successful international business based on world leading Norwegian technology.”
Recent Activity
This deal for Biomega marks the second announcement from AMERRA within a month. In mid-February, the firm announced it had joined forces with Pipeline Opportunity Partners to launch Pipeline Foods – a developer of sustainable supply chains in global agriculture that will have an initial focus on filling the need to meet demand for organic and non-GMO ingredients.
In response to rising consumer demand, major players have been increasing their sourcing of organic and non-GMO ingredients, or have been making changes to their product lines, according to Civil Eats.
However, while demand dynamics have been changing, large scale supply chain models have not kept pace. Minneapolis-based Pipeline Foods plans to provide a complete solution to these and other food companies that are expanding their organic and non-GMO business through a procurement strategy that secures a transparent, long-term, socially responsible, and sustainable supply of ingredients.
Beginning with an initial geographic footprint in the Americas, Pipeline Foods plans to rapidly expand its team and asset portfolio to be able to control and certify supply chains from farm gate to fork through a network of strategically located handling and processing assets in both origination and destination markets.
The Biomega deal is also the second in the aquaculture and marine production space for AMERRA within the past year. In May 2016 the firm announced the acquisition of a 90 percent stake in Andromeda Group – one of Greece’s largest producers of sea bass and sea bream.
Being a vertically integrated operation engaged in fry production, fish farming, and value-added processing, Andromeda is the only company of its kind with production in both the Western and Eastern Mediterranean, giving it the ability to have a global scope of exports and sales, selling its products across Europe, the U.S., and the Middle East.
The Addition of Biomega
The addition of Biomega to AMERRA’s extensive portfolio will vertically deepen the firm’s reach along the aquaculture production value chain, while also providing cross-exposure to the human and premium pet nutrition sectors.
“We are excited to partner with AMERRA given their deep knowledge of the global seafood and agriculture space,” said Jan Arne Vevatne, managing director of Biomega. “As Biomega pursues growth in higher value-added products, we are delighted to deepen our collaboration with the Alkymar team given their unique combination of nutrition knowledge and industrial hydrolysis skills.”
For Biomega, the acquisition by AMERRA provides the backing needed to drive greater collaboration and geographical expansion.
“As a founder of Biomega, I am pleased to fully join forces with my friends and former colleagues, now with the opportunity to realize the global potential of our combined resources,” said Kjartan Sandnes, managing director of Alkymar. “Our technology preserves the nutritional value of the raw material and maximizes the combined value in a unique way. We are excited to leverage AMERRA’s agriculture knowledge and network and expand outside of Norway.”
-Lynda Kiernan
Lynda Kiernan is Editor with GAI Media and daily contributor to GAI News. If you would like to submit a contribution for consideration please contact Ms. Kiernan at lkiernan@globalaginvesting.com.