Giant Japanese conglomerate Mitsui is investing $360 million (€327.7 million) in Ecuadorian shrimp producer Industrial Pesquera Santa Priscila.

The two companies will collaborate to increase productivity and efficiencies, said Mitsui in a release.

Focusing on the potential of an increasingly industrialized and consolidated shrimp industry, in 2019 Mitsui bought shares in Vietnamese shrimp processor Minh Phu Seafood.

At a similar time, a source close to the negotiations told IntraFish there were talks between Mitsui and Santa Priscila.