BioMar takes full control of Ecuador unit and plans capacity increase

ECUADOR – BioMar has completed the purchase of the remaining 30 percent stake in BioMar Ecuador, ending its joint venture with the Lanec family and becoming the sole owner of the business.

The company said the move marks the next phase of its growth in one of the world’s key shrimp farming markets. BioMar and the Lanec family formed the joint venture in 2019. During that period, the Ecuador unit increased feed volumes fourfold between 2019 and 2024.

Carlos Díaz, CEO of BioMar Group, said the decision reflects strong confidence in the country’s shrimp sector. “We have seen solid long term growth in Ecuador, and we believe the market will continue to develop,” he said.

“Over the past few years, we have moved from serving mainly small and medium producers to building long term partnerships with some of the largest farms in the country.”

Although BioMar now holds full ownership, both parties will continue to work together under a strategic commercial partnership.

Capacity increase under way

BioMar has already started an industrial expansion that will raise annual production capacity from 300,000 tonnes to 410,000 tonnes by the third quarter of 2026. The company will achieve this through plant upgrades and by installing a new pellet feed production line.

Management said the investment responds to steady demand growth and to a shift toward larger shrimp producers that operate under long term supply agreements.

BioMar has also outlined a second expansion phase that could add between 200,000 and 300,000 tonnes of extra capacity. The company said it could launch this project in the first half of 2026 if market conditions remain stable. The plan would require site upgrades and would include both pellet and extruded feed lines.

Strong Q3 performance

The announcement follows a strong third quarter in 2025. BioMar reported a 9 percent rise in volumes and a 10 percent increase in EBITDA, marking its strongest third quarter on record. Growth in Chile and Ecuador supported the results.

However, unusual biological conditions in Norway reduced salmon feed demand and led the company to narrow its full year guidance.

“I am with great expectations looking forward to the rest of 2025,” Díaz said. In a separate statement, he added, “I look forward to closing another good year for BioMar, supported by volume growth, solid margins and progress across our key segments.”

BioMar said its Tech, Shrimp and Selected Species segments all delivered higher earnings than last year, while return on invested capital rose to 21.9 percent.

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