Agrosuper in talks to buy Blumar for £401m
Purchase would expand AquaChile owner's annual Atlantic salmon capacity above 210,000 tonnes
Published
Chilean salmon farmer Blumar last night confirmed that it had signed a non-binding agreement to negotiate the sale of its salmon farming, processing, and sales assets to Agrosuper, owner of Chile’s largest salmon producer AquaChile, reports Fish Farming Expert's Chilean sister site, Salmonexpert.cl.
At 10pm local time, Blumar informed the Financial Market Commission (CMF) that in an extraordinary board meeting held on August 24, 2026, it approved the signing of a memorandum of understanding (MoU) with Agrosuper.
The MoU established the terms and conditions for good-faith negotiations for Agrosuper to purchase, directly or indirectly through an entity of its business group, 100% of the shares issued by Blumar’s salmon farming subsidiary, Salmones Blumar SA.
Valued at £401m
The agreement values Salmones Blumar SA at US $540 million (£401.1m) on a cash-free/debt-free basis. Of this amount, $40 million would be retained by Agrosuper and paid upon fulfillment of certain conditions related to specific production growth milestones.
The MOU includes a negotiation exclusivity period of 60 calendar days counted from the opening of the virtual data room enabled for the due diligence process, automatically extendable for an additional 30 days if Agrosuper expresses its willingness to continue with the transaction on the agreed terms.
Agrosuper is currently conducting due diligence and sale negotiations.
57,000 tonnes in 2025
According to Blumar's general manager, Gerardo Balbontín, the closing of the transaction would be subject to, among other things, authorisation, approval, or non-objection from the relevant authorities in Chile or abroad whose intervention is required, and the internal corporate approvals of each party.
Agrosuper’s general manager, José Guzmán, told the CMF that it is not possible to guarantee at this time that the transaction will be completed. Its eventual completion is subject to, among other conditions, satisfactory due diligence and negotiations, and regulatory approval.
According to information from Kontali in salmon farmer Mowi’s 2026 Salmon Farming Industry Handbook, AquaChile producer 155,000 gutted weight tonnes of Atlantic salmon last year, and Salmones Blumar produced 57,000 gwt, which made it Chile’s fifth-largest Atlantic salmon producer.
