AquaChile has divested from its tilapia operations in Costa Rica to fully concentrate on salmon production, selling its subsidiary Grupo ACI to the Costa Rica-based seafood company Martec for an undisclosed amount.
Grupo AquaCorporación Internacional (Grupo ACI), which has participated in the tilapia industry for more than 30 years, developing the Rainforest Tilapia brand, will be taken over by Martec’s sister company AquaFoods Group, which is a relatively new company, according to information provided to SeafoodSource by Martec.
The acquisition – still subject to approval of the competition authority in Costa Rica – includes tilapia production in Guanacaste, a processing plant in Terrapez, and the commercial operation based in Miami, Florida, U.S.A.
"We are very happy to have closed the negotiation process and, after obtaining the corresponding approvals, to be able to take control of the Grupo ACI operation, which contributes to strengthening our businesses in a complementary and sustainable way," Aquafoods and Martec CEO Patrick Roulet said.
Martec is one of Costa Rica’s largest exporters of wild-caught fish, and it also works in aquaculture farming pink snapper. The ACI Group's commercial strategy focuses on supplying fresh tilapia to large supermarket chains, distributors, and restaurants in the U.S., achieving a market share of more than 25 percent during 2019, according to AquaChile's 2020 Report.
Martec said the acquisition supported its mission of “feeding the world sustainably through water,” saying that water-sourced protein is where the company is looking to grow, and that its value proposition lies in selling fresh products coming from Costa Rica, a country renowned for its environmental stewardship.
“This will be the way to feed the world in the not-so-distant future. It makes sense in terms of synergies,” the company said in a stataement.
The tilapia farm and the Terrapez processing plant operate under international standards of quality, environment, and occupational health and safety, including certifications from the Aquaculture Stewardship Council, Best Aquaculture Practices, FSSC 22000, Marine Stewardship Council, and the Business Alliance for Secure Commerce.
Photo courtesy of Rainforest Tilapia
