Marine Harvest has announced that it has acquired the assets of the bankrupt Chile-based fish farming company, Acuinova for US$120 million. The purchase includes a hatchery, a smolt facility, 36 sea licenses, and a secondary processing facility. The deal will add to Marine Harvest’s currently unused 65 licenses in the region and will add 40,000 tons per year to the company annual production capacity. The operation will primarily produce Atlantic salmon but will also produce some trout – both for export markets, but the company will supply the Chilean domestic market as well if demand calls for it. The deal is expected to close in the fourth quarter of 2015 subject to the completion of due diligence and approval from authorities concerning competition.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service