Japan’s Nissui Corp. has acquired Chilean salmon farming business Pesquera Yadran for $133m.
Nissui said today (16 December) that the deal has been struck through its fresh salmon farming and processing subsidiary Salmones Antartica based in Chonchi, Chile. It is expected to close in January.
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Tokyo-headquartered Nissui is buying Pesquera Yadran from the investment firms Inversiones Yadran, Chile Market Limitada Servicios y Asesorias Financieras, and Inversiones Crucol.
Pesquera Yadran operates in the farming and processing of Atlantic salmon supplied to overseas markets including North and Latin America, and Asia. The business was loss-making in 2024 to the tune of $45.5m, compared to a profit attributable to its owners of $430,000 in the previous 12 months, according to a statement from Nissui.
Revenue dropped almost 19% to $222m, while operating profit turned to a loss of $21.5m. Pesquera Yadran delivered a profit of $16.3m in 2023.
Nissui described the objective behind the transaction: “To realise the company’s long-term vision, the company aims to establish a stable business portfolio by 2030 in which the food products business and the marine products business are well-balanced, with overseas marine products and food products businesses, [the] aquaculture business, and fine chemicals business serving as growth drivers.
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By GlobalData“Strengthening the aquaculture business is considered a key factor not only for the marine products business but also for improving the profitability of the entire Nissui Group.”
As a result of the transaction, the Japanese company will also inherit the Pesquera Yadran subsidiary Cultivos Yadran.
Pesquera Yadran operates a salmon processing plant in Quellón, Los Lagos, with an annual production capacity of 40 tonnes, according to its website. It also runs four fish farms raising around 6.5 million smolts a year.
For Nissui, food and marine products are the largest cash generators for the business. Teru Tanaka became president and CEO in May, winning promotion from an executive for the marine division.
The group delivered a 6.6% increase in total sales for the full year through March to Y886.13bn ($5.7bn). Food products accounted for Y471.1bn and marine products Y364.1bn.
Group operating profit rose 7.1% to Y31.8bn while profit attributable to Nissui’s owners climbed 6.4% to Y25.3bn.
A second-quarter trading update for the new fiscal year was issued in November, showing group revenue increased 2.8% to Y452.9bn. Food sales were up 5% at Y251.7bn and marine product sales edged up 1.8% to Y178.8bn.
Nissui’s total operating profit climbed 14.6% to Y19.7bn and profit attributable to the owners rose 13.7% to Y14.2bn.
