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Kiotech: Buying Growth In Fishing, Aqua Markets
Kiotech has been traded on the Alternative Investment Market since 2005, when it was principally concerned with marketing its Ultrabite sports fishing product. But the company experienced a significant increase in its turnover and a boost to its profitability when it bought Agil for £5.5m in the autumn of 2006. This business – formerly a division of Eco Animal Health Group Plc – focuses on the animal feed market, selling natural additives that target a range of animal infections. It also supplies products to improve biosecurity on farms.
A further boost to turnover and profits is expected to be achieved by the recently-proposed £3.4m takeover of Optivite Group, a specialist manufacturer of drug-free animal nutrition and feed products.
As well as adding to Kiotech’s portfolio of products, a key reason for the merger with Agil was the latter company’s established relationships within the worldwide aquaculture industry. Its distribution network – which helps Agil export products to more than 40 countries (accounting for more than 90% of its total sales) – was seen by Kiotech’s management as a key way to develop sales of its pheromones products.
Source: Proactiveinvestors
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