BASF divests omega-3 production plant to Marine Ingredients
BASF has signed a definitive agreement to sell its manufacturing facility for natural fish oils, med…BASF has signed a definitive agreement to sell its manufacturing facility for natural fish oils, medium-concentrated omega-3s, and customized bottled fish oil in Brattvåg, Norway, to Marine Ingredients, a manufacturer of marine-based ingredients and customized products. Both parties agreed not to disclose financial details of the transaction, which is expected to be closed in the first quarter of 2015.
As part of the agreement, the 47 employees currently working in Brattvåg will transfer from BASF to Marine Ingredients. With the acquisition, Marine Ingredients will gain control of omega-3 production, which is central to its business, thus expanding its ability to serve customers with tailor-made omega-3 products.
BASF is focusing its activities on the market segment for highly concentrated omega-3 fatty acids, following the acquisitions of Equateq (now BASF Pharma Callanish) in 2012 and of Pronova Biopharma in 2013. Highly concentrated omega-3 fatty acids for consumer health, clinical nutrition and pharmaceutical products are one of the key growth areas for BASF’s Nutrition & Health division.