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AquaChile snaps up salmon producer for $15.3 million

The company gets full ownership of RAS hatchery to farm broodstock and Atlantic salmon smolts.

Chilean salmon farmer AquaChile acquired full control of salmon producer Salmones Chaicas on Feb. 14, for $15.3 million (€14.4 million).

The company previously held a stake through different partners, the company said.

For this transaction, AquaChile subscribed share purchase agreements with Inversiones La Montana, Private Equity Patagonia Dos and Holding Salmones, the latter two being legal entities related to AquaChile.

Salmones Chaicas is a salmon processor founded in 2009, at the time when the Chilean salmon industry was hit by the ISA virus.

The company was affected by restrictions and farming suspensions in Los Lagos, as well as the need for water from estuaries, and other restrictions imposed by the system applied at that time.

"It was impossible at the time for AquaChile to run this project on its own, prompting the participation of different shareholders," the company said.

Through this transaction, Aquachile acquires a "strategic asset" of a recirculation system hatchery for the production of broodstock, eggs and Atlantic salmon.

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