New Brunswick-based Cooke’s Inc. has signed an agreement to purchase Corporacion Pesquera Inca SAC (Copeinca) of Peru – the country’s world’s largest fishmeal and fish oil producers and exporters.
Copeinca, according to a release from Cooke’s, was established in 1994 and has grown to become Peru’s largest fishing company with 2,770 employees, 45 vessels, and 8 processing plants that span the north and center coastline of Peru.
“There is tremendous compatibility between Cooke and Copeinca, and we’re excited to welcome Copeinca’s dedicated employees to the Cooke family of companies,” said Glenn Cooke, CEO of Cooke, in the release.
“High-quality fishmeal and fish oil are essential animal and human nutritional ingredients. They ensure a safe and wholesome feed supply for the growth and care of animals in several farming groups, including aquaculture.”
Cooke’s said the acquisition will allow the company to strengthen its growing marine ingredients business and diversify its geographic and species portfolio.
The company entered the marine ingredients sector in 2017 with its acquisition of US-based Omega Protein Corporation. It is a nutritional product company and a leading integrated provider of specialty oils and protein products.
Copeinca CEO Jose Miguel Tirado said the two companies share a people-centric culture focused on building up working waterfronts in rural coastal communities through sustainable fish harvesting and processing.
“Our Peruvian company is thrilled to join the Cooke family of companies. “Peru and Canada have a very strong and growing trade and investment relationship thanks to active collaboration between governments under the Canada-Peru Free Trade Agreement,” he said in the release.
The acquisition is subject to customary closing conditions and is expected to close in November.
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