The two companies will partner to breed sea bream, reports local news site Sapo.pt. To carry out the investment, Jerónimo Martins and Marisland-Madeira Mariculture inked a contract to establish a joint venture.
Under the plan, in the first phase of the investment, the facility will be fitted with a capacity of 550 tonnes per year. Its capacity is to be gradually increased to as much as 1,200 tonnes per year, according to data released by the Portuguese companies.
Carlos Baptista, a company representative from Marisland-Madeira Mariculture, said that the planned investment is “a natural step in Marisland’s strategy of consolidation and development on Madeira, and allows to merge our know-how in the aquaculture sector with the financial and distribution capacities of Jerónimo Martins.”
Madeira is a Portuguese archipelago located in the north Atlantic Ocean, southwest of Portugal. It is an autonomous region.
Jerónimo Martins says it is the largest food distribution group in Portugal and Poland. The retail giant operates Pingo Doce and Recheio chains in the Portuguese market, Biedronka in Poland, as well as Ara in the Colombian market.
In the first half of 2016, the retailer reported consolidated sales of close to €7 billion, an increase of 4.7 per cent compared with the same period a year earlier, and an EBITDA of some €387.6 million, up 6.8 per cent compared with the first six months of 2015, according to figures from Jerónimo Martins. The Portuguese group says it receives more than 4 million visits to its outlets in Portugal, Poland and Colombia every day.
Marisland-Madeira Mariculture is based in Funchal, Madeira. Carlos Baptista Marisland- Madeira Mariculture Marisland- Madeira Mariculture.
