CANADA – Canadian seafood company Cooke is expanding its reach in the marine ingredients sector with the acquisition of Peru-based Corporación Pesquera Inca (Copeinca), a leading global fishmeal and fish oil producer.
While financial details have not been disclosed, the deal involves Cooke acquiring all outstanding shares of Copeinca through a subsidiary, as outlined in a binding share purchase agreement with PF Cayman New Holdco.
Founded in 1994, Copeinca has grown into Peru’s largest fishing company, employing over 2,700 workers.
The company operates a fleet of 45 vessels and manages eight processing facilities along Peru’s north and central coasts.
Holding a substantial share of the country’s anchoveta fishing quota at 15.9%, Copeinca processes approximately 21% of Peru’s total catch annually, producing an estimated 200,000 metric tons of fishmeal and 23,000 tons of fish oil.
This acquisition is a strategic step for Cooke in expanding its marine ingredients business and broadening its range of regions and species.
The company emphasized that Peru is Canada’s second-largest export destination in South and Central America, while Canada ranks as the fourth-most significant export market for Peru globally.
Copeinca maintains several important industry certifications, including MarinTrust, Friend of the Sea, and ISO 14001, which reflect its commitment to sustainability and responsible practices.
The acquisition follows Cooke’s previous investment in marine ingredients in 2017, when it acquired Omega Protein Corp., a US-based company.
The acquisition, pending customary regulatory approval, is anticipated to conclude in November.
In related news, earlier this year, Cooke’s US subsidiary, True North Seafood, announced the planned closure of its New Bedford facility by the end of May as part of efforts to optimise production capacity.
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