CPF acquires 40% stake in Camanor

Thailand-based food producer Charoen Pokphand Foods (CPF) has acquired 40% stake in Brazilian shrimp producer Camanor Produtos Marinhos (Camanor) for $17.5m.

CPF’s investment into Camamor aims to expand its business in the Brazilian market.

Under the deal, CPF has agreed to acquire a total of 4,666,667 newly-issued ordinary shares of total capital stock of Camanor.

The completion of the deal is expected to place within one month of signing the investment agreement.

CPF executive committee chair Adirek Sripratak said: “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 genetics.”

Camanor is engaged in shrimp farming, as well as primary processing, and its product portfolio includes fresh and frozen processed shrimp, which are distributed to the domestic markets, as well as to French market.

The Brazilian firm also developed shrimp farming technology called AquaScience, which is a close operating system used for raising shrimp in a high density environment without using chemical or antibiotics.

Adirek further explained that the new partnership will not only enable CPF to extend its feed and hatchery in Brazil, but will also provide a geography diversification for its shrimp production operations.