Grupo Granjas Marinas, the largest shrimp producer and processor in Honduras is in the process of interviewing investment bankers as it seeks $30 million in investments from new investors to fund the company’s plan to double its annual revenue over the next five years to $200 million. Granhas Marinas CEO Victor Wilson states that investment from a strategic partner would be as a private placement and that an initial public offering within the next three years is a possibility but the company would opt for a reverse merger alternative first. Granjas Marinas operates more than 6,700 hectares and is expecting sales this year to be between $90 million and $100 million – up from $83 million in 2013 as production is also expected to climb to 31 million pounds live weight – up from 29 million pounds last year. As part of its plan to take advantage of the increase in global demand for protein, the company is also implementing a new shrimp farming method across all of it operations and expects to have 1,200 hectares converted by the end of 2015.
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