Sector News

CP Foods buys 40% of Brazil’s Camanor Produtos Marinhos

April 23, 2018
Consumer Packaged Goods

Thailand’s Charoen Pokphand Foods (CP Foods) has acquired 40% of Brazilian shrimp processor Camanor Produtos Marinhos for $17.5 million.

Camanor engages in shrimp farming and primary processing businesses in Brazil. Its main products include fresh and frozen processed shrimp, which is distributed through domestic wholesalers. It also exports to countries such as France.

The company has developed a shrimp farming technology called AquaScience, which is a close operating system raising shrimp in a high-density environment without using chemicals or antibiotics, resulting in a high productivity per farm area.

The deal is expected to be completed within one month after the investment agreement was signed.

CP Foods chairman of the executive committee Adirek Sripratak said: “It is the synergy investment which will strengthen CPF’s competitiveness in shrimp business in terms of feed production, genetics improvement and shrimp processing capacity through the company’s vision ‘kitchen of the world’ by applying Camanor experiences in shrimp farming technology and CPF expertise in shrimp genetic.

Adirek added that the partnership in Brazil will benefit CP Foods to extend its feed and hatchery businesses.

CP Foods’ total shrimp capacity reaches an average of 100,000 tonnes per year, which is not enough to fill domestic demand.

The company added that Brazil is a major source of agricultural materials required for production of shrimp feed and is also a high potential market with a sizeable population and economy. It will also provide geography diversification for CP Foods’ shrimp production operations.

Last year, CP Foods sealed a deal to buy 95% German meat supplier Paulsen Food for $13.7 million.

Source: FoodBev

comments closed

Related News

November 26, 2023

The future of alt-dairy: Givaudan harnesses digital technologies to customize flavor profiles and predict trends

Consumer Packaged Goods

Consumer behaviors and preferences are evolving rapidly. With macro shifts in society, inflation and food supply challenges set to profoundly influence how people consume food and beverages, Givaudan is exploring what the world of dairy alternatives will look like in the coming decade.

November 26, 2023

Arla Foods Ingredients CEO Henrik Andersen to step down

Consumer Packaged Goods

After nearly three decades with AFI, Andersen is leaving to pursue a different career path “to work on diverse projects and explore opportunities to serve as board member”. Serving as CEO since 2010, Andersen joined AFI in 1994, initially overseeing applications and R&D. Over the years, he has maintained a strong focus on the whey business.

November 26, 2023

Kraft Heinz appoints five new members to executive leadership team

Consumer Packaged Goods

The Kraft Heinz Company has introduced five new members to its executive leadership team, who will collaborate with Carlos Abrams-Rivera upon assuming the CEO role in 2024. Pedro Navio will assume the position of North America president at the beginning of next year. In addition, Willem Brandt, Bruno Keller, Cory Onell and Diana Frost will join Abrams-Rivera and Navio on the executive leadership team.

How can we help you?

We're easy to reach