Agrosuper finalises another deal in salmon

Agrosuper finalises another deal in salmon

Chile-based food manufacturer Agrosuper has sealed the acquisition of a local salmon business, its latest deal in the sector.

Having agreed a deal to pay US$225m for Salmones Friosur, Agrosuper has announced the acquisition has received competition approval and met other conditions.

Agrosuper has bought Salmones Friosur, 40 maritime concessions distributed mainly in the southern region of Aysén and the respective biomass, as well as a fish farm located further north in Hornopirén.

In August, Agrosuper, the Chile-based meat, seafood and processed food manufacturer, swooped to buy local salmon producer Empresas AquaChile.

Agrosuper had struck a deal to buy 67% of AquaChile from the company's majority shareholders and launch a tender offer for the rest of the business. The company said the value of the transaction, which is subject to competition approval, could reach US$850m.

In June, Agrosuper agreed to buy all the shares of local peers Salmones Magallanes and Pesquera Edén for $255m.

Agrosuper, set up more than 60 years ago supplying eggs, has grown to become one of Chile's largest food manufacturers. Already selling salmon alongside chicken, pork and turkey, Agrosuper describes itself as "the largest producer of animal protein in Chile".