Australis Seafoods completes aquisition for Magallenes processing plant

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Will improve its salmon processing capacity by at least 180 tonnes a day.

The salmon farmer Australis Seafoods – recently itself acquired by Chinese giant Jovio – finalised on Wednesday the acquisition of Pesquera Torres del Paine for USD 26.5 million, reports LaTercera.

The purchase was made through its subsidiaries Australis Mar and Piscicultura Río Maullín. In 2015, the 30-year-old salmon processor based in Punta Arenas, Magallanes told Aqua.cl that it was aiming to process at least 180 tonnes of raw material a day.

“By virtue of the foregoing, Australis Seafoods has acquired indirect control of Pesquera Torres del Paine and with it the operation of its processing plant located in the city of Punta Arenas, allowing it to improve its processing capacity of salmonid species farmed in the area, which should have positive effects on the results of the company,” Australis Seafoodswrote in a statement to the Chilean Commission for the Financial Market.

At the end of June, Joyvio Group and its co-investor Silk Road Fund launched a take over bid for up to 100% for Australis. At USD 921 million – it will be one of the largest acquisitions in Chile’s aquaculture industry.