Aquastar Buys Equity Stake in Major Indian Shrimp Processor, With Whom They Have Long Relationship
SEAFOODNEWS.COM [SEAFOODNEWS] March 28, 2018
Aquastar has purchased an equity stake in its long time shrimp supplier, Sagar Grandhi Exports.
Sagar Grandhi produces about 150,000 tons of shrimp per year, with farms and contract farmers using 10,000 hectares in Chittedu, which is in the Nellore district of Andhra Pradesh.
Aquastar's CEO Dirk Leuenberger told industry sources that the vast number of farms associated with Sagar means that Aquastar can respond to customer demands consistently on a year round basis.
The company recently completed a second factory which will take production to 125 metric tons per day, and that increases their ability to produce value added products such as shrimp rings, breaded shrimp, etc.
In a statement, Chella Rao Grandhi and Balaji Grandhi, the owners of the shrimp firm said “We are very pleased to enter into this ownership..
To Read Full Story Login Below.