New Peskanova grows back. In Abanca’s search for financial partners, the fishing company from Vigo gains investment strength with its first major inorganic growth operation in over a decade. And it will do so in Argentina, which is already one of the references in the industry. Headquartered in the Pontevedra municipality of Chapela, the firm has completed the acquisition of a local fishing company and according to industry sources consulted, the chosen one is Pesquera Veraz, a company specializing in catching hake and shrimp with nine vessels, three processing plants and a canning plant.. In this way, Pescanova will achieve its original goal of growth, volume and overall size. The company is in talks with Rabobank to do so, as the goal is to explain the operation through its subsidiary in the United States, which is a major consumer of the two types.
As published by Faro de Vigo, the newspaper of the same group, Prensa Ibérica, in the last 15 July issue of this newspaper, One of Nueva Pescanova’s goals is to gain size, specifically to increase profits.. Currently, the group has assets worth over €1,000 million but offering meager results as reflected in fiscal 2021 with a net profit of 7 million.
Argentina was listed as one of the reasonable markets to grow in at the time. Nueva Pescanova operates there in Puerto Deseado (in the state of Santa Cruz) with its 16 own-ship subsidiary Argenova, a dozen of which are devoted to shrimp fisheries. There is also a processing plant and a refrigerator here.
Final acquisition of the aforementioned Argentine fishing company It will give a lot of assets to Pescanova. The firm is part of the Veraz Group, which dates back to 1950 and founded the La Juventud shipyard, which later became the Federico Contessi Naval Shipyard in Mar del Plata, Buenos Aires province.
Veraz’s foray into the fishing industry took place in the 1980s and has since incorporated both production facilities and a fleet. It currently has nine boats, five fresh fish boats and four freezers.. The latter also operates mainly from Puerto Deseado and the latest company was ‘Federico C’ built by his own shipyard. The average age of the fleet is 25.
When it comes to transformation, Pesquera Veraz has three plants (in Mar del Plata, Rawson and Puerto Deseado) and a canning company, Marechiare.It is located in the province of Buenos Aires, but it is unknown whether the latter will be part of the deal.
According to the latest “Sustainability Report” data, The company produces 32,000 tons of fish and shellfish with a processing capacity of 17.000 tons at sea (on its ships) and 22.100 tons on land (in its factories).. In the case of the canning company, it produced six million cans in 2021. Pesquera Veraz has a total of 873 employees spread across three Argentina’s provinces.
The acquisition will be the first major inorganic growth operation since the government’s mandate. Manuel Fernández de Sousa.
Since the competition began, the olive fishing company has lost, either by its own decision or through bankruptcy, companies such as Nova Austral, Acuinova, as well as its involvement in Pesca Chile, Austral Fisheries or Lafonia (Malvinas, Sandwich Islands and South Georgia). aquaculture company and Acuinova Spain, Katei Alimentación (sushi), Pescanova Brasil, Belnova (Uruguay), Novahonduras, Hasenosa or Balnova (Ecuador). Since then, the only purchase has been made in 2018 from the marketer Unick Fish dedicated to the import and sale of seafood in South Africa and Namibia.