On January 31, 2019, Blumar announced to the Financial Market Commission that the process of purchasing 100% of Salmones IceVal, a company led by Martín Balbi, was completed.
The transaction for 100% of the shares of Salmones IceVal was valued at USD 51 million, an amount that the company will finance mainly with financial debt.
Salmones IceVal owns 5 concessions in the Aysén region, where it currently operates 3 cultivation centers, dedicated to the production of coho salmon, with a production of 7,000 tons wfe annually.
This production will be added to its current average harvest plan of 40,000 tons wfe and also to Blumar’s new project in Punta Arenas, BluRiver SpA, where it expects to harvest an average of 24,000 tons wfe annually.
“It is expected that this transaction will bring important synergies to Salmones Blumar and greater stability in the production program, which should generate positive effects on the company’s results in the medium term,” says Gerardo Balbontín, General Manager of Blumar S.A.
