Bloomberg: Chile’s salmon industry needs consolidation to grow

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Booming acquisitions to lead to further consolidation in the salmon industry.

Two major deals were just signed between Chilean salmon companies. AquaChile purchased Salmones Magallanes and Pesquera Eden. The same day, Agrosuper’s Los Fiordos bought the Friosur salmon unit.

And according to Bloomberg the only option is more of the same – swallowing rivals is the way forward, writes La Tercera.

“Salmon prices are going well, reducing the difference in profitability with the Norwegian salmon farmers, which increasing the interest of investors. There is talk of mergers and acquisitions. The industry is very attractive,” René Peragallo said, a fund manager in Banco de Crédito e Inversiones.

He manages an investment fund that has gained 20% in the last 12 months. According to Peragallo this is largely due to its shares in the salmon sector.