Russian Aquaculture to buy processor stake

News
242

Russian Aquaculture buys into partner’s production, profit

Russia’s largest aquaculture company, Russian Aquaculture, said Thursday that it has acquired an option to purchase a 40-percent equity stake in Tri Ruchya, a primary fish-processing company in the Murmansk region.

“The transaction will allow the Company to receive a share of Tri Ruchya’s profits, which will have a positive impact on Russian Aquaculture’s financial performance,” said Ilya Sosnov, CEO of Russian Aquaculture.

“We welcome this opportunity for greater cooperation with our partner Tri Ruchya, which has proven to be professional and reliable,” Sosnov added.

Tri Ruchya has modern, high-quality equipment to process up to 25,000 tonnes of (sockeye salmon) per year, as well as a refrigerated warehouse and developed infrastructure. The facility is conveniently located on transport routes near the Company’s new and existing farms.

“The facility meets Russian Aquaculture’s high standards for infrastructure, product quality, health and safety standards,” a statement said, adding that Tri Ruchya has been a Russian Aquaculture primary fish processor for the last two years.

“This transaction gives Russian Aquaculture guaranteed access to processing facilities which will increase the Company’s operational efficiency and reduce operational risks,” the company said.

The Company said it aims to create a vertically-integrated operation that produces 30,000 tonnes of sockeye by 2025 and earns current profit levels long-term,