Marfrio products. (Photo: Marfrío)

Marfrio acquires 60 pc of Vieira Peru

PERU
Friday, September 13, 2013, 23:50 (GMT + 9)

The Spanish group Marfrio SA, engaged in the development and marketing of frozen fish, acquired 60 per cent of the company Vieira Peru, for EUR 548,000.

This amount was funded with a capital increase, reported the newspaper Faro de Vigo.

The main objective of Marfrio is to position in South America, where Viera Peru currently has a processing plant in Paita.

The new company resulting from this operation, Marfrio Vieira Peru, will allow Marfrio to ensure the supply of Peruvian giant squid to the factory in Paita as well as to those operating in Marin (Galicia) and in Pralisa (Portugal).

The Andean plant is working with species from the Pacific such as the scallop shell, red shrimp, dolphin fish and anchovy.

The operation was joined by Marfrio chairman, Pedro Otaegui; and the firm’s CEO, Santiago Montejo.

The Spanish company owners expect that in the plant in Paita the first processing activity of the products coming from the sea takes place so that they can later be processed in factories in Galicia and Portugal.

Sources familiar with the operation commented that in a first stage the company will achieve a turnover of approximately EUR 7.5 million, the newspaper La Voz de Galicia reported.

Eduardo Vieira, which will keep 40 per cent of the company, explained that the capital expansion makes it possible to offer “viability to the project.”

The executive admitted that the cash situation led him to cede most of the company, since what is important is to ensure its continuity.

"It is better to have 40 per cent out of 100 per cent than 100 per cent from 0," argued the entrepreneur.

By Analia Murias
[email protected]
www.seafood.media

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