Nutreco acquires majority stake in Indian aquatech company

“The acquisition of a majority stake will enable Nutreco’s aquaculture business arm, Skretting, to provide in-house software and intelligent equipment to shrimp farmers around the world to increase productivity and reduce risk to their operations. Nutreco’s plan is to acquire full ownership of Eruvaka sometime in 2023,” the Dutch multinational said in a press release.

Founded in April 2012 in Vijayawada, Andhra Pradesh, based in India, Eruvaka’s features include automatic and intelligent sonic feeding, alerts, pond diagnostics, data logging, analysis and automation. Nutreco’s original stake was designed to help evolve the Eruvaka.

Nutreco CEO Fulco van Lede said in a press release: “I am delighted that Nutreco is taking a majority stake in Eruvaka. Our focus on feeding the future drives us to invest in innovative technologies that improve the sustainability of our food supply chain. This investment demonstrates our commitment to helping aquaculturists integrate smart solutions that make their business more productive and efficient.

“We are grateful to everyone whose expertise and vision have brought Eruvaka to where it is today, especially the dedicated employees of the company, its most valuable asset; its founder Sreeram Raavi, who not only invented the original concept, but whose vision and drive successfully brought it to market; and aqua/agritech-focused private equity firm Omnivore, whose early belief and investment in the business was instrumental in its growth. We look forward to the continued development and growth of Eruvaka with its great team of employees.

Eruvaka CEO Kunal Choudhary added, “Eruvaka formed the basis of the exceptionally successful Skretting 360+ concept. We have been able to work with farmers to reduce uncertainty, provide peace of mind, increase productivity and reduce risk.

This technology has been part of Skretting’s offering for Latin American customers since 2018 and has enabled farmers to reduce production costs and increase yield and sustainability parameters, while significantly reducing their risk.

Carlos Miranda, Managing Director of Skretting LatAm, added, “Together with Skretting premium extruded feeds and Skretting technical support, this has enabled shrimp farmers to maximize their results and improve their production performance, increase significantly increase growth and survival, and reduce average FCR and cost by 26 percent. We are proud to support our farmers and market growth in Latin America in this way and we are committed to continuing this journey with our customers to continue the continuously improving efficiency and sustainability through innovation and digitization.

Since 2019, Nutreco has made more than 10 investments in Asia, Latin America, Africa, Australia, Europe and North America.

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