Antarctica Advisors International Corp Acts as M&A Advisor to Cooke Seafoods Inc in the Acquisition of Fripur

/in

Miami. December 14, 2016 – Antarctica Advisors International Corp, the leading Seafood Industry-focused investment banking firm, acted as M&A advisor to Cooke in the acquisition of 100% of the fishing business of Fripur S.A. in Uruguay and Grinfin S.A. in Argentina.

Canada’s Cooke, one of the largest seafood companies in North America, on Wednesday completed the acquisition of 100% of the business of Fripur S.A. in Uruguay and Grinfin S.A. in Argentina. Fripur was one of the leading vertically integrated seafood companies in South America. With 13 fishing vessels in Uruguay and 4 fishing vessels in Argentina, the Company has access to 24,000 MT of hubbsi hake and 1,600 MT of red crab. The Company also counts with a processing facility in Montevideo, Uruguay.

Read more

Chile salmon sales consolidation could lead to more mergers in future

/in

Tom Seaman, Neil Ramsden and Matilde Mereghetti

There will be more consolidation on the sales side amongst Chilean salmon farmers in 2017, which could lead to more mergers in the future, according to a top industry dealmaker.

“The Chilean export industry has been relatively fragmented on the sales side; this has been an issue for years. Now, they have got their heads above the water and they can start to do those kinds of ventures,” Kolbjorn Giskeodegard, the seafood director at Nordea Bank’s equity research unit, told Undercurrent News.

This should develop further, however.

“We think that the consolidation the downstream Chilean salmon producers are undertaking is the beginning of the process that will result in fewer players on the production front as well,” Ignacio Kleiman, managing partner at seafood-focused investment firm Antarctica Advisors, told Undercurrent.

Consolidating on the sales side is “a temporary band-aid, not a permanent solution”, he said. “They are testing the waters and learning to work with partners. Real mergers will need to happen.”

Read more