Chilean firm eyes US opportunities

The Chilean salmon farming company Ventisqueros has bought a 50% stake in Blumar USA, in a bid to gain better access to the North American market. 

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The news follows the signing of a Memorandum of Understanding (MOU) between the two firms in August.

"Having successfully completed the process of due diligence in late September, we expect to sign the purchase agreement during October, which will give Ventisqueros 50% ownership of Blumar USA," the company reported to the Chilean Superintendency of Securities and Insurance.

“The deal was designed to create a strategic partnership to market Chilean salmon in the US and Canada, in sufficient volumes to be able to supply large retail chains and food service outlets, which require safe and reliable sources," the company added.