VeroBlue Farms has been acquired by NaturalShrimp, Inc.
VeroBlue Farms (“VBF” or the “Company”) is a land-based, recirculation aquaculture production company with production facilities in Iowa . Modern facilities that produced and marketed environmentally sustainably sourced fish in the US since 2015. More than 340,000 square foot production area spread over three locations and nine barns. The operations are currently shut down as they look to invest further in the facilities. Focused currently on Barramundi and Large Mouth Bass production, but able to adapt operations to produce other species going forward.
VeroBlue is seeking $15 - $20 million to retrofit its facility to gain efficiencies. Business is estimated to generate over $10 million of EBITDA following the retrofit. This would make it one of the largest land-based aquaculture companies in the United States and serve as a platform for further expansion.
VeroBlue would entertain a majority or minority sale.
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