Aquaculture health and genetics company Benchmark will receive its second and final payment, worth $9 million (€8.1 million), from Chilean salmon farmer AquaChile following the dissolution of the companies’ joint venture.
Benchmark completed the dissolution of its joint venture in Chile with salmon farmer AquaChile in June, a year after both companies had announced their partnership.
As part of the dissolution agreement, the company transferred ownership of the Ensenada bio-secure hatchery to Benchmark.
The Ensenada facility in the Los Lagos region in Chile will have its first eggs ready by the first half of 2021. The payment is due within five days of signing.
On May 29, the companies said they were ending the JV, following the acquisition of AquaChile by Chilean giant Agrosuper.
The acquisition has resulted in further restructuring of AquaChile, including the dissolution of its 120,000-metric-ton feed joint venture with BioMar, which was finalized last week.