Rising US interest rates likely to drive M&A, says veteran dealmaker

BOSTON, US — The US Federal Reserve’s plan to continue to increase interest rates in the US will likely drive consolidation in the sector, a veteran US-based seafood banker told Undercurrent News.

Earlier in March, the Fed voted to raise the range of the federal funds rate to 0.75% and 1.00%, citing progress in labor market growth, business fixed investment and inflation. According to an article from Yahoo Finance, officials also forecast three rate hikes in 2018, with the rate reaching its long-run goal of 3.0% in 2019.

“How will the industry react to the cost of money going up? There has been a lot of cheap money around, but this is going to change,” Ignacio Kleiman, managing partner of seafood-focused boutique Antarctica Advisors told Undercurrent, during the 2017 Boston seafood showRead more

Chile salmon sales consolidation could lead to more mergers in future

There will be more consolidation on the sales side amongst Chilean salmon farmers in 2017, which could lead to more mergers in the future, according to a top industry dealmaker.

“The Chilean export industry has been relatively fragmented on the sales side; this has been an issue for years. Now, they have got their heads above the water and they can start to do those kinds of ventures,” Kolbjorn Giskeodegard, the seafood director at Nordea Bank’s equity research unit, told Undercurrent News.

This should develop further, however.

“We think that the consolidation the downstream Chilean salmon producers are undertaking is the beginning of the process that will result in fewer players on the production front as well,” Ignacio Kleiman, managing partner at seafood-focused investment firm Antarctica Advisors, told Undercurrent.

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Antarctica Advisors International Corp Acts as M&A Advisor to Cooke Seafoods Inc in the Acquisition of Fripur

Miami. December 14, 2016 – Antarctica Advisors International Corp, the leading Seafood Industry-focused investment banking firm, acted as M&A advisor to Cooke in the acquisition of 100% of the fishing business of Fripur S.A. in Uruguay and Grinfin S.A. in Argentina.

Canada’s Cooke, one of the largest seafood companies in North America, on Wednesday completed the acquisition of 100% of the business of Fripur S.A. in Uruguay and Grinfin S.A. in Argentina. Fripur was one of the leading vertically integrated seafood companies in South America. With 13 fishing vessels in Uruguay and 4 fishing vessels in Argentina, the Company has access to 24,000 MT of hubbsi hake and 1,600 MT of red crab. The Company also counts with a processing facility in Montevideo, Uruguay.

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Chile salmon sales consolidation could lead to more mergers in future

Tom Seaman, Neil Ramsden and Matilde Mereghetti

 

There will be more consolidation on the sales side amongst Chilean salmon farmers in 2017, which could lead to more mergers in the future, according to a top industry dealmaker.

“The Chilean export industry has been relatively fragmented on the sales side; this has been an issue for years. Now, they have got their heads above the water and they can start to do those kinds of ventures,” Kolbjorn Giskeodegard, the seafood director at Nordea Bank’s equity research unit, told Undercurrent News.

This should develop further, however.

“We think that the consolidation the downstream Chilean salmon producers are undertaking is the beginning of the process that will result in fewer players on the production front as well,” Ignacio Kleiman, managing partner at seafood-focused investment firm Antarctica Advisors, told Undercurrent.

Consolidating on the sales side is “a temporary band-aid, not a permanent solution”, he said. “They are testing the waters and learning to work with partners. Real mergers will need to happen.”

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Antarctica Advisors LLC Successfully Arranges and Closes CAD 240 million in new credit facilities for Ocean Choice International L.P.

Miami. November 18, 2016 – Antarctica Advisors LLC, the leading Seafood Industry-focused advisory firm, acted as the investment banking advisor to Ocean Choice International L.P. (“OCI”) in the CAD 240 million refinancing of its credit facilities with a syndicate of Canadian and U.S. lenders.

St. John’s, Newfoundland-based OCI is a leading vertically integrated seafood company engaged in harvesting, processing and marketing of a diverse range of Groundfish and Shellfish species for domestic and international markets. OCI operates six frozen-at-sea fishing vessels and five processing plants employing over 1,700 people in Atlantic Canada and at sales offices around the world.  Read more

Antarctica Advisors LLC Acts as the M&A Advisor to Sea Watch International in the Acquisition of Bar Harbor Foods

Miami. September 6, 2016 – Antarctica Advisors LLC, the leading Seafood Industry-focused investment banking firm, acted as the M&A advisor to Sea Watch International Ltd. in the acquisition of Looks Gourmet Foods Holding Company Inc. (d.b.a. Bar Harbor Foods).

Maryland-based Sea Watch International, the largest integrated producer of clam products in the U.S., on Friday completed the acquisition of Bar Harbor Foods, a leading producer of branded quality seafood products for retail.

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Antarctica Advisors International Announces Opening of its Representative Office in Chile

Miami – March 04, 2016 Antarctica Advisors International Corp, a leading US-based Food Industry-focused independent investment banking firm, announced today the opening of its new office in Santiago, Chile. The office in Chile will support Antarctica’s growth in South America and allow the firm to better service its corporate clients in the region, offering knowledge-based transaction advisory services in the Food sector.

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Cooke Seafood USA wins bid for Uruguay’s Fripur

A judge has given preliminary approval to a bid from an affiliate of Canada’s Cooke Aquaculture to purchase the shuttered operations of Uruguay’s largest processor, Fripur, a Cooke spokeswoman confirmed.

Cooke Seafood USA, which last year bought Wanchese Fish Company, put in a bid for 100% of Fripur’s operations in December alongside a rival bid from a co-operative of Fripur workers. But the judge ruled out the cooperative’s bid and approved one from Cooke Seafoods.

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How to Invest in Seafood Stocks

Some exotic stocks on global markets may provide your best opportunity to invest in seafood stocks.

Fishing is one of humanity’s most ancient food-gathering methods. But in terms ofpublicly traded companies, the industry is still fairly immature.

However, there are a handful of firms – including several that trade on global exchanges– that could lure investors into an industry that is essentially a bet on the increasing demand for high-protein, healthy diets.

“It’s [a] sustained and long-term and permanent demand,” says Ignacio Kleiman, managing partner of Antarctica Advisors, a food industry investment bank in Florida.

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