Orizon Seafoods acquires 70 percent of Fiordosur for USD 20 million

Santiago, Chile-based Orizon Seafoods has acquired a 70 percent stake in seafood processing firm Fiordosur for USD 20 million (EUR 18.7 million).

Orizon Seafoods, part of Nutrisco, which is itself part of the Corpeca/Grupo de Empresas Copec conglomerate, which is owned by the Angelini Group, specializes in canned, frozen, and value-added seafood products of Chilean origin, especially jack mackerel and mussels. It also produces fishmeal and fish oil. It operates several fishing vessels and processing facilities in Coquimbo and Coronel, Chile.

Fiordosur is headquartered in Viña del Mar, Chile, and operates processing plants in Puerto Aysén and Porvenir, working with king crab, stone crab, swordfish Chilean sea bass, salmon, and other seafood.

“Seeking to fulfill our purpose of leading sustainable nutrition from the sea, we announce the acquisition of 70 percent of Fiordosur, a company dedicated to the processing and export of premium products from the sea, with a strong commitment to sustainability, an important regional positioning and a close relationship with the artisanal world in Aysén and Magallanes,” Orizon said in a statement posted on LinkedIn.

Earlier this year, Orizon Seafoods announced a plan to grow its presence in Europe with the opening of an office in Spain. Its acquisition is part of its international growth strategy.

“Together with Fiordosur, we will strengthen our presence in strategic markets such as the United States and China,” it said.

Fiordosur Managing Director Ricardo Anguiano and its executive director, Michael Bianchi, will retain interests in the company.

“Belonging to Nutrisco, through Orizon Seafood, is a great step for the growth of the company. This is an important boost to enhance our business plan five years from now, and, of course, benefit our more than 160 collaborators in the Aysén and Magallanes areas," Anguiano said in a press release.

Photo courtesy of Orizon Seafoods