Chinese Company Joyvio Buys Chilean Salmon Producer Australis for $880 Million
Legend Holdings, parent company of Lenovo and a major player in the Chinese seafood industry, announced its subsidiary Joyvio Group has entered into a purchase agreement for Chilean salmon farmer Australis. The value of the deal is $880 million.
Australis produced 64,000 tons of salmon in 2017, or about 9% of Chilean production. The purchase comes amid other consolidation in the Chilean aquaculture sector, but represents the first purchase by a Chinese firm.
In 2017 Australis had revenue of $399 million, and a net profit of ...
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