Marine Harvest acquires Chilean farming company

Industry Database

Marine Harvest has inked an agreement to purchase the assets of bankrupt Chilean farming company, Acuinova, which will add 40 thousand tonnes per annum to its total capacity.

The US$120m purchase includes a hatchery, smolt facility, 36 sea water licences and a primary and secondary processing facility all located in Chile’s Region 11.

Alf-Helge Aarskog, CEO Marine Harvest, told World Fishing & Aquaculture that Marine Harvest has 65 unutilised licences in the region, so the purchase is important.

"To be able to get a smolt facility and processing capacity is very important in region 11. This gives us needed infrastructure, and thus is a strategic move for us. It will also improve the biological situation in the area and help create lasting sustainable production in the Chilean farming industry.”

Atlantic salmon will be the main farmed species at the facility, but there will also be some trout produced. The biomass included in the deal is expected to generate a harvest volume of around 15,000 tonnes in 2015.

The fish will mainly be destined for the international market, but Mr Aarskog pointed out that the company will also supply Chile if the demand is there.

The deal is expected to be closed in the last quarter of 2015 subject to due diligence and approval from the competition authorities.

During the last few years Marine Harvest has focused more on Region 10 in Chile leaving its assets in Region 11 somewhat dormant. But this purchase will allow the company to now focus on ramping up sustainable production in the region.

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