Italian net maker acquires V&V.
In Puerto Montt, Chile last Friday Badinotti Group announced the acquisition of V&V, a net loft with operations in Chile´s Aysen Region, the company announced in a press release.
V&V was the first of its kind, founded in 1989, and has a significant market share in the region. It services the local salmon farming industry and offers domestic shipping and handling, diving and ROV rental, besides net repair and maintenance.
Badinotti said it plans to capitalize on its new investment by using it as a local base for other products and services in its portfolio.
Badinotti and V&V had been negotiating for several months, until concluding in a final agreement last Friday with the signing of the deal. The companies will now initiate the business integration which has been planned to take place in two phases.
Initially, V&V will retain its name under Badinotti´s administration. In a second phase, V&V will be incorporated into Badinotti Net Services Aysén, with all its processes and services standardized to the same level currently offered by the company in Chile and Canada.
Badinotti Group CEO Christian Torres said: “We feel a growing need to be ever closer to our client´s farms and operations, in order to serve their increasing demands. This investment allows to move toward that goal, offering our services locally to our clients no matter where they are in Chile. We believe that the acquisition of V&V is an important step in this process and allows us to incorporate a group of people with invaluable experience and with a desire to contribute to the Chilean aquaculture industry.”
Badinotti´s CEO continued by stating that “This investment goes hand in hand with Intesal´s (the technical branch of Chile´s salmon farming association) Competitive Development Plan for Aysen. Our goal in this respect is to significantly improve quality standards in the region and build on our international experience to renew and develop local technology, knowledge and facilities that will contribute to local development of the industry.”
