When it came time to weigh the buyout offers put forward by the majority of Nueva Pescanova, Cooke Inc. was the only bidder to beat his own bid. This resulted in the Galician fishing company filing a massive bankruptcy in 2013, making it a swimming pool under the assurance of creditor banks and finally Abanca. But the moment came, and in New Brunswick they did not hesitate: Pescanova complements itself with its vertically integrated business modelespecially in the European market with its future plans and growth targets.. And it’s the other way around, because the United States is the place the entire industry aspires to – the largest global fish importer after China – and it’s where Cooke has earned a privileged position.
But first it’s time to bring the absorption project down to earth. It is expected to close about five or six weeks after its end. due diligence (detailed inspection). Glenn Cooke, CEO of the North American holding company, already knows the details of the largest marketer of fishing products in Spain. According to FARO, he arrived in Vigo on a private plane this Thursday and will then take him to Barcelona to attend the Seafood Expo Global. This newspaper contacted the property of the fishing company to retaliate for the visit – the American businessman also had lunch with Abanca executives at a Vigo restaurant – without success.
The industrial capacity of Nueva Pescanova in Galicia is decisive for the group and it will be so for Cooke if the acquisition is complete, as they are confident of Canada. Most of the processed and value-added food production is in Chapela, O Porriño or Arteixo. The Redondela factory has the capacity to produce 25,000 tons of chilled and frozen surimi per year.It is one of the most important references of Pescanova on the main shelves of distribution chains. Along with the competition in the country, as companies such as Viciunai (with the Sistemas Britor plant in Santander) or Angulas Aguinaga (Irura, Guipúzcoa) are also strongly committed to this product. Cooke doesn’t make surimi; demand is strong in Europe and the USA, but above all in Japan, China and South Korea.
In Chapela, in addition to the machined factory, is the headquarters of Nueva Pescanova, which the delegation led by Glenn Cooke can visit. there are facilities The 190 and 90 meter long double bed allows the company to reduce its reliance on external logistics. For this reason refrigerators For example, with goods from Malvinas, they dock right in front of the refrigerated warehouse filled with photovoltaic panels to reduce energy consumption. The proposal that Pescanova added to the Cooke portfolio also O Porriño (formerly Frinova, to prepare fish and cephalopods) and Arteixo (using vannamei shrimp and Argentine shrimp) factories. The same is true for the aquaculture facility. xovveWith another product that the Canadian firm does not manufacture itself: shield.
Captive fish farming has been in Cooke’s DNA since its inception, but with salmonA breed that was born as Cooke Aquaculture and is an international reference point that can strengthen its product offering with the Pescanova brand. According to the European Fisheries and Aquaculture Market Observatory (Eumofa), about 15,000 tons are consumed annually in Europe. It is not among the main references for the North American consumer. The Xove farm has an annual capacity of 2,800 tonnes, capacity after Pescanova left the Mira (Portugal) macro plant, the flagship project of the management team that bankrupted the company. The Biomarine Center aquaculture research center in O Grove is one of the jewels in the Galician company’s crown..
Vigo to Barcelona
The Gulfstream G650ER model jet, on which the Cooke team traveled, is one of the favorites of business travelers with its features and a range of approximately 14,000 kilometers. It has a capacity of up to 19 people. As FARO has learned, the plane will leave Peinador airport at the weekend for Barcelona, where the new edition of the Seafood Expo Global will start on Tuesday. Booked two there stands For brands Cooke Seafood, Cooke Aquaculture Scotland, Wanchese Europe –Armón Vigo is building a fishing vessel for this group’s subsidiary in Argentina – or Culmarex (aquaculture subsidiary in Murcia). Nueva Pescanova will also attend Seafood, the largest world event in the industry, ahead of Conxemar.