Thailand’s Charoen Pokphand Foods (CP Foods) has inked a deal to acquire a 40 per cent stake in Camanor Produtos Marinhos, one of a largest shrimp farmers and processors in Brazil.
The company agreed to purchase a total of 4,666,667 newly issued ordinary shares representing 40 per cent of total capital stock of Camanor worth $17.5 million.
Camanor’s main products include fresh and frozen processed shrimp distributing through domestic wholesalers and exports to countries such as France.
Camanor has also developed shrimp farming technology called "AquaScience", 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.
The deal in Brazil will allow CP Foods to expand its feed and hatchery business in the country.
