Sep
25
Spanish fishing group Pescapuerta will keep selling production from Tunacor Group, despite having sold off its 49% stake in the Namibian hake catcher, reported La Voz de Galicia.
Pescapuerta’s exit and sale to Kaume Group means Tunacor is now 100% Namibian owned, but sources at the Spanish fishing group told the Galician newspaper that the move is part of the company’s “growth strategy”.
“Production is conferred, but we will be partners for commercializing, this is an agreement for future growth,” sources reportedly told La Voz de Galicia.
Based in Vigo, Pescapuerta is Spain’s second largest frozen seafood supplier, after Pescanova, and owns four factories and more than 40 fresh fish vessels and factory ships, including in Peru and China.
The group has seen its revenues fall sharply in the past two years, tumbling from €189 million and €197m in 2010 and 2011 to €110.2m and €104.5m in the following two years, respectively, according to data collected by Alimarket.
In April this year, Pescapuerta approved a plan to merge with its subsidiary Congelados y Derivados (Elmar) in Leon, Spain, before dissolving the latter, citing a bid to increase efficiency and minimize costs.
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