BioMar takes full control of Ecuador unit
Production capacity set to rise to 410,000 tonne
ECUADOR – BioMar has acquired the remaining 30% shareholding in BioMar Ecuador, ending the joint venture formed in 2019 with the Lanec family.
The company said the transaction closes a partnership period during which feed volumes at BioMar Ecuador increased fourfold between 2019 and 2024, demonstrating rapid growth in one of the world’s largest shrimp farming markets, while the Lanec family will remain linked to the business through a separate commercial arrangement.
Following the ownership change, BioMar is moving ahead with an industrial expansion programme to increase annual production capacity from 300,000 tonnes to 410,000 tonnes by 2026, a step tied to rising demand and changes in customer base.
According to the company, the expansion will be delivered through a series of debottlenecking initiatives and the installation of a new pelletised shrimp feed production line, with construction and commissioning scheduled for completion in the third quarter of 2026.
BioMar Group chief executive Carlos Díaz said the decision reflects a long-term view of shrimp farming in Ecuador, where the company has increasingly shifted from supplying mainly small and medium-sized producers to entering extended supply arrangements with larger, integrated farms.
The company also disclosed plans for a second phase of expansion that could add between 200,000 and 300,000 tonnes of additional capacity, subject to market developments and requiring adjustments to site infrastructure as well as the introduction of both pelletised and extruded feed lines.
If commercial conditions progress as anticipated, BioMar said the second project could be launched in the first half of 2026, positioning Ecuador as a central production base for its shrimp feed operations.
Recent financial performance
The Ecuador investment follows a period of strong financial results, with BioMar reporting its highest-ever quarterly EBITDA in the third quarter of 2025 as volumes rose across several key regions.
For the quarter, the company recorded a 9% year-on-year increase in volumes, while earnings before interest, taxes, depreciation and amortisation rose by 10%, supported mainly by solid performance in Chile and Ecuador despite biological challenges affecting production in Norway.
Díaz said the company remained on track for a solid full-year result, although disruptions in Norway led BioMar to narrow its full-year outlook, revising revenue guidance to US$2.52 billion to US$2.58 billion and EBITDA expectations to US$230 million to US$236 million.
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