Natural Shrimp, Incorporated, announced this week it’s acquiring the assets of Alder Aqua, formerly known as Vero Blue Farms of Webster City. The purchase price will be at $10-million, consisting of a $5-million down payment and notes due in 36 and 48 months.
The acquisition is subject to successful due diligence by Natural Shrimp and is expected to close in the fourth quarter of 2020. The transaction includes the purchase of the Alder Aqua facilities in Blairsburg and Buckeye.
Natural Shrimp is an aquaculture company which has developed and patented the first commercially Recirculating Aquaculture System for shrimp. Natural Shrimp CEO Gerald Easterling said his team has been working with employees and consultants of Vero Blue Farms since the second quarter of 2018.
Although the facility was originally designed for Barramundi, Easterling said it compliments the recirculating aquaculture system for shrimp making the company poised for future expansion.
(By Pat Powers, KQWC, Webster City)