Japan’s Nissui snaps up Chilean salmon business Pesquera Yadran

Core Viewpoint - Nissui Corp. has acquired Chilean salmon farming business Pesquera Yadran for $133 million, aiming to strengthen its aquaculture business and achieve a balanced portfolio by 2030 [1][3]. Group 1: Acquisition Details - The acquisition is made through Nissui's subsidiary Salmones Antartica, based in Chonchi, Chile, and is expected to close in January [1]. - Pesquera Yadran was purchased from investment firms Inversiones Yadran, Chile Market Limitada Servicios y Asesorias Financieras, and Inversiones Crucol [1]. Group 2: Financial Performance of Pesquera Yadran - Pesquera Yadran reported a loss of $45.5 million in 2024, a significant decline from a profit of $430,000 in the previous year [2]. - Revenue for Pesquera Yadran dropped nearly 19% to $222 million, with an operating loss of $21.5 million [2]. - In 2023, Pesquera Yadran had a profit of $16.3 million [2]. Group 3: Strategic Objectives - Nissui aims to establish a stable business portfolio by 2030, balancing food products and marine products, with aquaculture and fine chemicals as growth drivers [3]. - Strengthening the aquaculture business is seen as crucial for enhancing the profitability of the entire Nissui Group [4]. Group 4: Operational Capacity - Pesquera Yadran operates a salmon processing plant in Quellón, Los Lagos, with an annual production capacity of 40 tonnes and manages four fish farms raising approximately 6.5 million smolts annually [5]. Group 5: Nissui's Financial Performance - Nissui reported a 6.6% increase in total sales for the year ending in March, reaching ¥886.13 billion ($5.7 billion), with food products contributing ¥471.1 billion and marine products ¥364.1 billion [6]. - Group operating profit rose 7.1% to ¥31.8 billion, while profit attributable to Nissui's owners increased by 6.4% to ¥25.3 billion [6]. - A second-quarter trading update indicated a 2.8% revenue increase to ¥452.9 billion, with food sales up 5% to ¥251.7 billion and marine product sales rising 1.8% to ¥178.8 billion [6]. - Nissui's total operating profit climbed 14.6% to ¥19.7 billion, and profit attributable to the owners rose 13.7% to ¥14.2 billion [7].