Alimar Stands to Double Sales Revenue with Invermar Purchase
SEAFOODNEWS.COM [Techno Press] February 20, 2015
Chilean Fish Meal and Fish Oil Producer Alimar stands to double its sales with its recently annouced deal to buy salmon producer Invermar.
Earlier this month the two agreed to have Alimar buy a majority of Invermar's stock at about US$0.07 per share. Under the agreement Alimar would start purchasing shares by February 18. Final cost of Alimar's investment has now been pegged at about $21 million. Alimar agreed to buy at least 66.6 percent of Invermar's shares.
The combined operations are expected to double Alimar's sales revenues. Last year Alimar posted $113 million in sales revenues. Meanwhile, Invermar's sales hit $134 million in 2013, the last year it was profitable.
Alimar's total 2014 net profits were $97 million...
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