Colombian tilapia and trout supplier PezCo is opening up a new front in the US market after landing a major retail contract for its red tilapia, and is seeking fresh capital to scale up operations even more.

PezCo COO Juan-Carlos Libreros told IntraFish the company began selling its first shipment of whole gutted, gilled and scaled (GGS) tilapia in a retail clients last week across 14 distribution centers. Libreros declined to name the retailer, but said 4,000 pounds (1.8 metric tons) are being delivered three times a week to the buyer.

“It’s got incredible eye appeal, and that seems to have gotten the buyers on board,” Libreros said of the red tilapia. “We think there is a real niche for this fish.”

Unlike Nile tilapia, red tilapia has a red color that gives it a similar look to ocean perch and snapper, Libreros noted.

Libreros, together with his brother Luis-Ignacio, have even bigger ambitions for red tilapia. The two have plans to expand an operation they own near the city of Cali in the state of Valle de Cauca.

Like Nile tilapia, red tilapia grows from egg to market in around eight and a half months. Red tilapia is slightly smaller at harvest, with a size of between 350-550 grams. Current production is at 32 metric tons, but with the expansion the executives see the potential to nearly double the output.

The company is already farming across 20 ponds at the site, and have identified another 12. The company’s existing Nile tilapia operations hold Best Aquaculture Practices (BAP) and Aquaculture Stewardship Council (ASC) certification, and the Libreros brothers have the groundwork laid to pursue the certifications for the red tilapia operations as well.

The next step for the brothers is partnering with investors for the expansion, and they’re currently in talks.

Finance

PezCo execs seek investors for red tilapia expansion