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Belgium/United States

INVE’s Contract with the Great Salt Lake Brine Shrimp Cooperative

 

Benchmark announces that its wholly owned subsidiary INVE Aquaculture Holding BV (INVE) has successfully renewed its sales and marketing agreement with the Great Salt Lake Brine Shrimp Cooperative, Inc. (GSL COOP) in Utah, USA.  Under this long-term agreement, Benchmark maintains its rights to distribute a substantial share of GSL COOP’s Artemia harvest from the Great Salt Lake, the world’s greatest source of Artemia, a natural live food widely used by shrimp hatcheries worldwide.

 

Historically, Artemia supplied under this sales and marketing agreement has represented approximately 60% of INVE’s total Artemia sales, generating revenues of over $383 million in 2016.  The renewal of the sales and marketing agreement secures INVE’s long-term access to the world’s top quality Artemia, which, as well as providing significant revenues from direct sales, creates demand pull for INVE’s portfolio of hatchery feeds and health products.

 

INVE has also entered into a similarly long-term distribution agreement with the GSL COOP for INVE’s current and future Artemia-related products and technologies.  INVE is developing a range of breakthrough Artemia-related feed products, which are on track to be launched in early 2020.

 

Both the sales and marketing agreement and the distribution agreement have initial 10-year terms.

 

Malcolm Pye, Chief Executive at Benchmark, said: “We are extremely pleased to be continuing with and building on our important relationship with the GSL COOP.  The sales and marketing agreement secures long-term access to the best quality Artemia available globally, from a responsibly and sustainably harvested source.  Access to the GSL COOP’s customer base will compliment Benchmark’s existing distribution networks for its developing Artemia-related product portfolio and is expected to create significant growth in sales across the Advanced Animal Nutrition division in the years to come.”

 

Information: Malcolm Pye, Chief Executive, Benchmark Holdings, Benchmark House, 8 Smithy Wood Drive, Sheffield S35 1QN, United Kingdom (Phone 44-0-1142-409-939 Email info@benchmarkplc.com, Webpage http://www.benchmarkplc.com).

 

Information: INVE Aquaculture Holding,nv, Regus Claudius Prinsenhof, Verlengde Poolseweg 16 4818 CL Breda, The Netherlands (Phone 32-0-52-40-95-95, Fax 32-0-52-40-82, Webpage http://www.inveaquaculture.com).

Source: Investegate.co.uk.  Benchmark Secures Renewal of Key Strategic Sales and Marketing Agreement With Great Salt Lake Artemia Cooperative.  August 22, 2017.

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