Skretting have acquired Nelson and Sons, Inc., the manufacturer of Silver Cup fish feed. The company has 2 production facilities near Salt Lake City, Utah. The total consideration for this transaction is EUR 11 million.
Nelson and Sons is a family owned business with 50 employees that started to produce fish feed in 1956. The company produces for the freshwater markets in Western USA, including a significant share in the Idaho Trout business. The company is also active in Canada and Mexico. The total annual fish feed production is around 30,000 MT. The company has annual revenues of approximately EUR 17 million. The profitability is in line with the profitability of Skretting’s fish feed business.
Knut Nesse, Managing Director Skretting, said, “Silver Cup is a well respected name throughout the US, Canada and Mexico for its quality specialty feeds. Further, Silver Cup is active in other areas and product niches than Skretting, so it is a natural extension of our move into new aquaculture feed markets”.