Mars pulls out of tank business

Mars Fishcare has signed a management buy-out agreement for its facility in Felgueiras (Portugal), according to a report in the UK magazine Aquatictrader.
The new owners will be Carlos Neto, previously Mars Fishcare Portugal director, and M. Manuel Pedrosa, previously Mars Fishcare Portugal engineering & quality manager. According to the report, the agreement allows the continuation of the manufacture and marketing of aquariums by the new owners.
The “Zeneo” and “Aqua” ranges will continue to be marketed by Mars Fishcare until the end of this year and after that by the new legal entity under its new brand name. The Rena brand will remain the property of Mars Fishcare and was not included within the scope of the management buy-out.