German-based international group Saria has purchased 36.5 percent ownership of Chilean company Fiordos Austral - a company that uses organic byproducts and surpluses to produce animal and human nutrition products as well as agricultural products.
The alliance brings together two companies with complementary capabilities, Fiordo Austral said in a release, noting that it brings nearly 30 years of experience, deep knowledge of the Chilean salmon industry, a consolidated operation, and a leading global position in the commercialization of salmon meal and oil. Saria, through its business unit Bioceval, adds wide international experience, technical expertise in processing animal-derived byproducts, a global commercial platform, and a longstanding track record in developing high value-added ingredients. In addition, the partnership is expected to help the Chilean company grow in strategic markets, fast track development of new applications, and expand its product offerings.
“Saria's entry marks an important milestone in Fiordo Austral's history. We share a long-term vision and the conviction that there is significant potential to continue developing higher-value solutions for the industry,” Fiordo Austral Chairman Rafael Ariztía said. “Saria's international experience, technical knowledge, and commercial network naturally complement our strengths and will allow us to accelerate the company's next phase of growth, while strengthening our contribution to the Chilean salmon industry.”
Fiordo Austral did not disclose the terms of the purchase other than the percentage of the ownership stake that Saria had purchased.
Fiordo Austral was created in 2010 with the merger of Pacific Star, founded in 1995, and Salmonoil, founded in 1997, which were established to use surpluses from salmon production as raw material, according to local paper La Tercera. Fiordo Austral helps power a circular economy approach by transforming silage and viscera resulting from salmon industry processing.
The company employs more than 800 people, has five production plants and 22 vessels, and processes 350,000 metric tons of material a year. According to its 2022 sustainability report – the most recent available – Fiordo Austral’s revenues reached USD 377 million (EUR 324 million). Of its total production, 60 percent was destined for Asia, 21 percent for Europe, 11.5 percent for North America, and 7.5 percent for South America.
The company was recently named as one of 19 Chilean firms that secured certification under a four-year salmon sustainability initiative run by Chile’s government-run Agency for Sustainability and Climate Change.
For its part, Saria has more than 13,000 employees working at 200 sites in 26 countries throughout the world. Saria has had presence in Chile for years; in 2019, it purchased the local company Comercial Bahía for the production of animal- and marine-based meal and premixes.
