China Fishery Group Ltd. announced on Tuesday that it has acquired two Peruvian fishing companies, Consorcio Vollmacht S.A.C. and Negocios Rafmar S.A.C., for a total of USD 26.16 million, bringing the company’s share of the total allowable catch of Peruvian anchovy to 6.21 percent in North Peru and 11.72 percent in South Peru.
The deal includes two fishing vessels and one fishmeal processing plant in Ilo, which handles around half of total fish landings in South Peru.
The company now operates six fishmeal plants in Peru, five in the north and one in the south.
“The strategic location of this additional fishmeal processing plant will also allow the group to achieve a geographical spread throughout Peru and further enhance the utilization of its fishing quota in the south of Peru,” said Group Managing Director Ng Joo Siang.
“China Fishery has always aimed to be a leading consolidator in the global fishing industry,” he added. “This acquisition is very much in line with our growth strategy, enabling us to gain a greater share of the Peruvian fishing quota and benefit from the persistent uptrend in global fishmeal demand.”
