Ecuador’s Superintendency of Economic Competition (SCE) has approved Santa Priscila’s bid to acquire assets from Proteinas del Ecuador Ecuaprotein.
The transaction will see Santa Priscila, one of the largest shrimp producers in Ecuador, acquire assets that Ecuaprotein used in the production of shrimp and fish hydrolysates. The SCE determined the purchase will maintain sufficient competitive pressure and does not pose a risk to economic competition, Vistazo reported.
The exact terms of the purchase were not disclosed.
Ecuaprotein produces hydrolyzed fish and shrimp, primarily for manufacturers of fish and shrimp feed.
The SCE determined that Santa Priscila is already operating in the segment and ruled out any significant risk to competition as Fortidex – a major fishmeal manufacturer in Ecuador – remains the main player in the industry, Ekos reported.
Ecuador’s shrimp production has risen rapidly in recent years, and the country’s total shrimp exports hit an all-time record in May when the country exported 165,538 metric tons of shrimp worth USD 847 million (EUR 736 million). As its farming capacity grows, the country has begun to focus on more value-added products as it seeks to continue increasing its export value.
