The largest private family-owned seafood company in the world has announced plans to grow again.
New Brunswick-based Cooke Inc. has entered into an agreement to acquire Copeinca of Peru.
The company is the largest fishing company in Peru and one of the largest fishmeal and fish oil producers and exporters in the world.
It has nearly 2,800 employees and operates 45 vessels and eight processing plants, according to a news release from Cooke.
“High-quality fishmeal and fish oil are essential animal and human nutritional ingredients,” Glenn Cooke, CEO of Cooke, said in the release.
“They ensure a safe and wholesome feed supply for the growth and care of animals in several farming groups, including aquaculture.”
The acquisition will allow Cooke to strengthen its growing marine ingredients business. Cooke first entered the sector in 2017 with its acquisition of United States-based Omega Protein Corporation.
Jose Miguel Tirado, CEO of Copeinca, said they are thrilled to join the Cooke family of companies.
“Peru and Canada have a very strong and growing trade and investment relationship thanks to active collaboration between governments under the Canada-Peru Free Trade Agreement,” said Tirado in the release.
Peru is the second largest export market for Canada in Central and South America, and Canada is the fourth most important export market for Peru in the world.
The acquisition is subject to customary closing conditions and is expected to close sometime in November.
