China Fishery Group on Thursday announced that it acquired Peruvian fishing company Deep Sea Fishing for USD 18 million (EUR 14.1 million).
The move allows China Fishery to increase its share of the Peruvian anchovy quota from 4.85 percent to 5.08 percent in northern Peru and 7.11 percent to 7.87 percent in southern Peru.
“With a higher percentage of quota entitlement, the group will be able to increase its Peruvian anchovy harvest volumes. This is in line with our strategy in Peru to seek acquisition opportunities which will allow the group to increase its access to Peruvian anchovy — the world’s largest wild catch species,” said Ng Joo Siang, managing director of China Fishery.
“We believe that global demand for fishmeal will continue to increase over the long-term in view of the increasing demand for aquaculture and animal-farming due to population growth and rising popularity of fish as a healthy source of protein,” he added. “This acquisition will enable us to benefit further from this favorable market trend.”
The company will continue to look at other acquisition opportunities in Peru, said Siang.
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