Cooke has announced the takeover of one of the world’s largest fishmeal and fish oil producers and exporters to help diversify its portfolio.
Together with PF Cayman New Holdco, a wholly-owned subsidiary of Cooke will indirectly acquire all outstanding shares in Corporación Pesquera Inca SAC (Copeinca) of Peru.
“High quality fishmeal and fish oil are essential animal and human nutritional ingredients,” said Glenn Cooke, chief executive of Cooke.
“We believe Copeinca will be a major contributor in furthering Cooke’s growth as a leader strengthening global food security.”
Established in 1994, Copeinca is Peru’s largest fishing company with 2,770 employees, 45 vessels and eight processing plants. It processes a fifth of the country’s total catch used or fishmeal and fish oil, producing around 200,000 MT and 23,000 MT respectively.
“Copeinca and Cooke share a people-centric culture focused on building up working waterfronts in rural coastal communities through sustainable fish harvesting and responsible processing,” said Jose Miguel Tirado, chief executive of Copeinca.
Headquartered in Canada, Cooke entered the marine ingredients sector in 2017 with its acquisition of US-based Omega Protein Corporation, a nutritional product company and provider of specialty oils and specialty protein products.
The acquisition is subject to customary closing conditions and is expected to close in November.
Deutsche Bank Securities acted as lead financial advisor to Copeinca, together with Antarctica Advisors International Corp.
