Japanese corporate giant Mitsui & Co. has bought a stake in Chilean salmon producer Salmex, in a deal that will give Mitsui a stake with an estimated value of USD 101 million (EUR 90.5 million).
Mitsui, according to a statement from the company, will own 23.4 percent of Salmex’s shares once the purchase deal is complete. The company already owns shares in Salmex’s subsidiary, Multiexport Pacific Farms (MPF). Part of the Salmex acquisition will come from purchasing new shares, and part will come from transferring MFP shares to Salmex itself.
“Through our investment in Salmex we will utilize its group network to expand sales channels to the global market, which is expected to see increased demand, and to increase the corporate value of Salmex,” Mitsui said in its statement announcing the acquisition.
Salmex itself is a subsidiary of Multiexport Foods, a Chilean company which produces, processes and sells a variety of salmon products to markets such as Brazil, Japan and the United States. Mitsui has been selling Multiexport products for the past 20 years, mostly to Japanese markets.
