Canadian fisheries group Cooke Aquaculture is looking to acquire Pesca Chile, the Latin American country’s subsidiary of the troubled Spanish fisheries multinational Pescanova S.A.
Pescanova and its operations in 21 countries across the world are facing a meltdown as company data show the business is all but bankrupt.
Pescanova was founded in 1960 in Vigo, the Galician port city in the northwestern Spanish province of Pontevedra in 1960. Its innovative processing of fish aboard its own vessel was among factors that led to the company's rapid growth and expansion until it fell victim to Spain's ongoing economic crisis.
