Farmed shrimp. (Photo: Aquascience)

CPF acquires 40pct of Brazilian shrimp producer

Charoen Pokphand Foods PCL (CPF) has recently acquired 40 per cent shares in Brazilian shrimp farming and processor in an attempt to further expand the business into high-growth market.

CPF Chairperson of the Executive Committee Adirek Sripratak pointed out that the company agreed to purchase a total of 4,666,667 newly-issued ordinary shares, representing 40 per cent of the stake of Camanor Produtos Marinhos Ltda., for USD 17.5 million.

The deal is expected to be completed within one month after the investment agreement was signed.

Camanor’s main products include fresh and frozen processed shrimp distributing through domestic wholesalers and export such as France.

It has also developed and owned shrimp farming technology called AquaScience®, which is a close operating system raising shrimp in a high density environment without using chemical or antibiotics, resulting in a high productivity per farm area.

“It is the synergy investment which will strengthen CPF’s competitiveness in shrimp business in terms of feed production, genetics improvement and shrimp processing capacity through the company’s vision “Kitchen of the World” by applying Camanor experiences in shrimp farming technology and CPF expertise in shrimp genetic,” Sripratak stressed.

The executive highlighted that the new partnership in Brazil will benefit CPF to extend businesses including feed and hatchery. The expansion is drawn to serve shrimp industry and local consumption. Its shrimp total capacity reaches an average of 100,000 tonnes per year, which is not enough to domestic demand.

This investment in Brazil will offer CPF a possibility for geography diversification on shrimp production operations, in a market having high potential, with considerable population and economy.
 
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