Blumar and Ventisqueros sign partnership deal related to US business
2016-11-30 10:17:26   copyfrom:    hits:

The partnership pact complements the purchase agreement reached by Ventisqueros and Salmones Blumar at the end of
 

The partnership pact complements the purchase agreement reached by Ventisqueros and Salmones Blumar at the end of September. (Photo: Blumar/FIS)

 

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Wednesday, November 30, 2016, 01:10 (GMT + 9)

 

Blumar Seafoods signed a partnership agreement with Productos del Mar Ventisqueros SA, which "basically regulates Blumar US administration and how the partners can transfer their respective rights in that company."

This agreement, informed through an essential fact presented to the Superintendency of Securities and Insurance (SVS), complements the purchase agreement between Salmones Blumar SA (Subsidiary of Blumar SA) and Productos del Mar Ventisqueros SA, informed on September 29.

Under that contract, Ventisqueros acquired 50 per cent of the property of the United States-based salmon trading company Blumar USA, LLC, which at that date was wholly owned by Salmones Blumar.

Blumar stressed that this strategic alliance, designed for the commercialization of Chilean salmon in the US market as well as that of Canada, "aims to achieve sufficient sales volumes to supply salmon with the large retail and feed service chains, which can be accessed only with relevant volumes of salmon in a continuous and safe manner."

According to Blumar S.A. general manager Gerardo Balbontin, "it is estimated that the transaction will not have any significant effects on the short term result of the subsidiary Salmones Blumar and, therefore, on the parent company Blumar SA."

In a first stage, the two companies expect to achieve annual sales exceeding USD 150 million.

 

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