This partnership is an important signal of the companies’ long-term commitment and confidence in Chile and the future of the salmon industry in the country
Multiexport Foods SA, a pioneer and leader of salmon farming in Chile, has announced that Cargill, the global food and agriculture company, has agreed to purchase 24.5 per cent of the shares of Salmones Multiexport SA (Multi X), the subsidiary of Multiexport Foods SA. In turn, Mitsui, a shareholder of Multi X since 2015, will increase its shareholding by 1.13 per cent, to 24.5 per cent.
Multiexport Foods SA maintains control of Multi X with 51 per cent of the total shares. The transaction is subject to certain regulatory approvals and the fulfillment of conditions agreed by the parties.
This partnership is also an important signal of the companies’ long-term commitment and confidence in Chile and the future of the salmon industry in the country.
“Adding Cargill as a new partner of Multi X will be a strategic and decisive step in the next stage of development of the company and its purpose to win over the world’s consumers with high-quality, value-added, sustainable products sold under our brands ‘Multi X’, ‘Arka’ and ‘Latitude 45’,” said José Ramón Gutiérrez, Chairman of Multiexport Foods SA.
Tim Noonan, managing director for Cargill’s seafood business commented, “This partnership is an important next step in the development of our seafood strategy and will leverage our capabilities across the value chain, including consumer insights, culinary innovation, value-added processing know-how, risk management, and fish nutrition and health solutions. As a result, we hope to provide more customers and consumers with access to Multi X’s high-quality portfolio of private label and branded salmon products.”
