CPF acquires Brazils shrimp leading producer Camanor

Stocks and Financial Services Press Releases Wednesday April 18, 2018 17:15
Bangkok--18 Apr--CPF

Charoen Pokphand Foods PCL (CPF) has recently acquired 40% shares worth US$17.5 million in Camanor Produtos Marinhos Ltda., one of a leading shrimp farming and processor in Brazil to further expand the business into high-growth market.

Mr. Adirek Sripratak, Chairman of the Executive Committee at CPF, said the company agreed to purchase a total of 4,666,667 newly-issued ordinary shares representing 40% of total capital stock of Camanor worth USD 17.5 million (equivalent to THB 547 million). The deal is expected to be completed within one month after the investment agreement was signed.

Camanor engages in shrimp farming and primary processing businesses in Brazil. Its main products include fresh and frozen processed shrimp distributing through domestic wholesalers and export such as France. It has also developed and owned shrimp farming technology called AquaScience(R), which is a close operating system raising shrimp in a high density environment without using chemical or antibiotics, resulting in a high productivity per farm area.

"It is the synergy investment which will strengthen CPF's competitiveness in shrimp business in terms of feed production, genetics improvement and shrimp processing capacity through the company's vision "Kitchen of the World" by applying Camanor experiences in shrimp farming technology and CPF expertise in shrimp genetic. " Mr. Adirek Said.

Mr. Adirek added that the new partnership in Brazil will benefit CPF to extend businesses including feed and hatchery. The expansion is drawn to serve shrimp industry and local consumption. Its shrimp total capacity reaches an average of 100,000 tonnes per year which is not enough to domestic demand.

Brazil is a major source of agricultural materials required for production of shrimp feed and is also a high potential market with a sizable population and economy. It will also provide geography diversification on CPF shrimp production operations.

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