Cooke Inc. and PF Cayman New Holdco Limited have executed a binding share purchase agreement under which a wholly owned subsidiary of Cooke will indirectly acquire all the outstanding shares of Corporación Pesquera Inca S.A.C. — Copeinca — of Peru, one of the world’s largest fishmeal and fish oil producers and exporters.
Copeinca was established in 1994 and has grown to become Peru’s largest fishing company with 2,770 employees, 45 vessels and eight processing plants that span the north and center coastline of Peru. Copeinca holds the largest anchoveta quota in Peru at 15.9% and processes approximately 21% of the country’s total catch for annual production of approximately 200,000 MT of fishmeal and 23,000 MT of fish oil.
Upon completion of the acquisition, Cooke will strengthen its growing marine ingredients business and diversify its geographic and species portfolio.
Copeinca holds numerous industry certifications that reflect its commitment to food security, health and safety, and environmental sustainability including MarinTrust, Friend of the Sea, ISO 14001, ABE, BASC, GMP+, and HACCP.
Cooke entered the marine ingredients sector in 2017 with its acquisition of U.S.-based Omega Protein Corporation, a nutritional product company and a leading integrated provider of specialty oils and specialty protein products.
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 in November.
