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.
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