Singapore, 11/7/2024 – SyAqua Group is thrilled to announce a significant leap forward in our mission to enhance and diversify the genetic resources and market reach of our company. This strategic acquisition will not only bolster our existing portfolio but also pave the way for new market opportunities, and most importantly, to protect our strain security with another genetic nucleus and broodstock multiplication facility in the USA.
Strategic Acquisition and Market Expansion
Our latest acquisition of the assets of Primo Broodstock USA LLC (“Primo”), a company that has been known for its pioneering work in the development of Specific Pathogen Free (SPF) and disease tolerant genetic lines, marks a pivotal moment for us. Primo has an impressive legacy, having been the first to leverage SPF populations out of Ecuador to address disease challenges in major markets like Mexico and China. This acquisition allows us to tap into robust and well-established genetic resources while significantly expanding our US genetic nucleus and broodstock multiplication facilities.
Unlocking New Market Segments
With Primo’s integration, SyAqua now has the potential to tap new genetic stocks developed over years of selective breeding for disease tolerance. This strategic move opens potential for more innovative selection strategies that will bring our customers enhanced performance even in the most challenging production environments.
We anticipate a significant increase in supply of our US broodstock production capacity by the end of 2024, targeting potential production of more than 230,000 broodstock per year. This acquisition will enhance our ability to meet the growing demand in major shrimp-producing markets.
Innovative Infrastructure Enhancements
SyAqua Americas continues to refine its Biofloc based raceway production technologies, known for efficiency and superior broodstock. This expansion, coupled with new state of the art packing lines, will ensure stringent environmental control and top-notch product quality. These advancements highlight our dedication to sustainability and operational excellence.
Commitment to Genetic Excellence and Sustainability
Our long-term commitment to balanced genetic selection programs remains unwavering. We have consistently delivered some of the highest-performing broodstocks globally. The acquisition of Primo enriches our genetic resources, aligning with our vision of business sustainability and our commitment to managing environmental impact of the blue economy, particularly in Asian shrimp farming.
Furthermore, our alliance with Ocean 14 Capital Fund strengthens our dedication to sustainable practices and innovative solutions in aquaculture.
About Primo Broodstock
Founded in 2000 in Ecuador, Primo Broodstock began importing WSSV-tolerant animals in 2011, quarantining them at the University of Arizona. By 2013, Primo’s PL was tested in Mexico, and by 2014, they had entered Malaysian and Chinese markets.
Haimao signed a strategic cooperation agreement with Primo in 2015 and acquired the company in 2017, leading to the expansion of Primo’s operations. Significant investments from 2018 onward improved facilities, with a new breeding nucleus operational by 2019 and genomic selection integrated by 2021.
Looking Ahead
As we continue to grow and innovate, we remain dedicated to our customers and stakeholders. Our acquisition of Primo exemplifies SyAqua Group’s plans for continued strategic moves designed to enhance our market share and genetic capabilities.
