January 22, 2014

Tri Marine has bought 100% of the shares of Conservera de las Americas, owner and operator of tuna and pelagics processing plant in Paita, from Austral, the firm announced.

The large scale plant in Paita produces tuna and pelagic (anchoveta and mackerel) products for the Peruvian and international markets.

Peru-based Austral is majority-owned by Oslo-listed Austevoll Seafood and owns six other factories, of which two, in Pisco and Coishco, do frozen and canning products. Austral said last October it is working on expanding its Coishco plant.

The plant's production capacity will complement Tri Marine's existing network of owned and contract tuna and pelagics processing plants, and will enable Tri Marine to locally process the pelagic and tuna resources available in Peru, thereby creating jobs and supporting the local economy, the company said.

"Tri Marine is pleased to return to Peru through the acquisition of Conservera de las Americas," said Renato Curto, CEO of Tri Marine.

Tri Marine's focus is on the human consumption side of the business. The Paita plant will be dedicated to the production of high quality products destined for preferred customers in the countries where Tri Marine currently operates, as well as in the domestic market in Peru.

The transaction has been structured in a way that the production at the plant will not suffer any major interruptions.

In December 2013 the European commission (EC) approved the acquisition of a portion of Tri Marine International by Bolton Group, giving a green light for a deal that united two companies with a combined turnover of over US$2 billion.