J-Trading Inc., a Japanese trading group, announced on Monday to the U.S. Securities and Exchange Commission that it has entered a definitive agreement to acquire Atlantic bluefin tuna rancher Kali Tuna from Baja Aqua Farms, S.A. de C.V., a subsidiary of Umami Sustainable Seafood.
The purchase is for 100 percent of Kali’s share capital for JPY 1.2 billion (USD 10.2 million; EUR 8.2 million), subject to closing adjustments. Kali, a limited liability company organized under the laws of the Republic of Croatia, is located in the Adriatic Sea off the coast of Croatia.
Integral Partners Corporation, a private-equity fund based in Tokyo, Japan, is supporting J-Trading with funding for the transaction. Including the assumption of Kali debt, the total enterprise value of the transaction is approximately USD 35.4 million.
Umami, which has company headquarters in San Diego, Calif., USA, will continue to operate Baja Aquafarms in Mexico at its three sites in the Pacific off of Baja California.
