Conpepac picks up Camanchaca’s Centromar Pesquera

Conpepac, a group of Peruvian investors led by the Galleno family, has announced it will purchase Centromar Pesquera, the Ecuadorian fishing business of Camanchaca, for USD 15.5 million (EUR 12.5 million).

Camanchaca CEO Richard Garcia said the sale is part of a strategic objective to focus on business development involving salmon and mackerel products.

Camanchaca had purchased Centromar, located in the Guayas Province in Ecuador, in 2006. The majority of Centromar’s supply is directed to the fishmeal and fish oil market.

The agreement, signed late last week, is due to be finalized in mid October.

Glacier Securities LLC, the New York-based subsidiary of Iceland’s Islandsbanki, acted as lead advisor providing investment banking services to Camanchaca, a leading producer of salmon, trout, mussels and scallops that markets some of its products under the Pier 33 brand.

Ignacio J. Kleiman, CEO of Glacier Securities, said the transaction is a highly strategic and intelligent decision by Camanchaca. “This transaction shows that the management of Camanchaca has a clear strategic plan for the group and is prepared to define and implement the right moves expeditiously and without hesitation.”

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