Cooke Aquaculture Acquires Salmones Cupquelan

The Fish Site
by The Fish Site
26 September 2008, at 1:00am

US - New Brunswick-based Cooke Aquaculture has finalized the purchase of Salmones Cupquelan S.A., a Chilean company with 30,000 million tonnes of salmon production and annualsales of approximately $100 million.

“Chile has become a major player in the global salmon farming industry and Cupquelan is giving us an opportunity for applying our successful business model and corporate strategy in a new region,” explains Glenn Cooke, the company’s CEO. “It will allow us to strengthen our existing business in Atlantic Canada and the State of Maine and to secure the prosperity we have achieved in our home markets by bringing valuable geographic, species and market diversification to the company.”

The expansion into Chile will give Cooke a platform for future growth and the ability to compete with global players by moving its annual production to 80,000 MT and vaulting the company to one of the world’s leading salmon producers.

This deal will not diminish Cooke’s commitment to its Atlantic Canadian and US operations. A Chilean division of Cooke will complement the company’s existing business and be managed as a stand-alone company. Cooke has been managing Salmones Cupquelan S.A. since the fall of 2007 and has already initiated a number of positive changes to its operations.