NaturalShrimp has acquired the assets of aquaculture peer Alder Aqua – formerly known as VeroBlue Farms – in a $10 million deal.
The assets, located in Webster City, Iowa, include real estate, equipment, tanks, inventory, customer lists, contracts and more.
NaturalShrimp, which already has production facilities in Texas, claims to have developed and patented the first commercially operational recirculating aquaculture system (RAS) for shrimp.
“Closing on this facility provides us the ability to integrate our already patented electrocoagulation system technology with a technologically advanced commercial seafood operation,” said Tom Untermeyer, chief technology officer of NaturalShrimp.
“With 2,700,000 gallons of recirculating capacity and approximately 344,000 square feet, we are very encouraged that we will have the capability to produce the most natural shrimp in the industry at a rate not seen by other leading seafood producers.”
Gerald Easterling, CEO of NaturalShrimp, added: “This acquisition represents a watershed moment for both the company and its shareholders. The state-of-the-art facility, alongside our other expansion project in La Coste, Texas provides NaturalShrimp the resources and capacity to become the largest RAS shrimp producer in the country.”
© FoodBev Media Ltd 2020
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