Australis Seafoods buys Magallenes salmon processor

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Chinese-owned Chilean salmon farmer expands portfolio.

The Australis Seafood salmon company through the subsidiaries Australis Mar and Piscicultura Río Maullín has signed a deal to buy Pesquera Torres del Paine for USD 26.5 million, reports Latercera.

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.

In November, the Chinese giant Joyvio inked to a deal to buy Australis Seafood for USD 880 million. That deal has been given until April 2019 to settle.