One of Chile’s largest seafood producers has finished the sale of its Ecuadorian subsidiary to a group of investors.
Compania Pesquera Camanchaca finished transactions this week, confirming the sale of Pesquera Centromar, its Ecuador-based fishing and fishmeal subsidiary, to a group of investors led by Peru’s Congelados Peruana del Pacifico. Glacier Securities, the New York-based subsidiary of Iceland’s Islandsbanki, provided investment banking services to Camanchaca, and acted as lead advisor during the sale.
“Both the Camanchaca management team as well as the buyers kept the sale/purchase process focused and highly professional,” said Glacier Securities CEO Ignacio Keiman.
Camanchaca controls approximately 20 percent of the Chilean pelagic quotas, producing salmon, trout, fishmeal and fish oil, frozen and canned fish, mussels, scallops and abalone.
“This is an important step for Camanchaca and it shows our commitment to continue focusing the company’s energy and financial resources on our core businesses in Chile, namely salmon and pelagic fishing,” said Camanchaca CEO Ricardo Garcia Holtz. “The new owners of Centromar have ample experience in the fishing business and we trust they will take the company into its next growth phase.”
Camanchaca markets some of its products in the United States under the seafood brand Pier 33. Over the summer, Camanchaca received two stars from the Global Aquaculture Alliance in its Best Aquaculture Practices program.
