Cooke has acquired Copeinca for US$56 million, aiming to enhance operational efficiencies and expand into direct human consumption markets within the dynamic Peruvian fishing industry.

Target Information

Cooke, a leading Canadian seafood group and the fifth-largest fishing conglomerate globally, has announced the full acquisition of Corporación Pesquera Inca (Copeinca) for a total of US$56 million. With this acquisition, Copeinca strategically positions itself for operational consolidation and modernization. Under the leadership of General Manager José Miguel Tirado, the company aims to produce over 230,000 tons of fishmeal and 35,000 tons of fish oil in the upcoming year.

Environmentally, Copeinca is committed to transitioning its two plants in Chimbote to gas operations by 2025, with an investment estimated at around US$7 million. Additionally, it is developing a refrigeration project expected to cost approximately US$25 million and be completed in two to three years. The company is also considering renewing its fleet, projecting an investment of US$8 million per ship for the replacement or construction of three vessels over the next three to four years. Despite focusing on optimizing fishing operations in the short term, a significant strategic goal includes expanding into direct human consumption.

Industry Overview

The Peruvian fishing industry is currently experiencing dynamic growth, despite a marginal increase of only 2.7% in traditional fish export values, reaching US$2.187 billion between January and October