September 1, 2010
by Ben MillerThree years ago, Perus fishmeal and fish oil exporters stood firmly in the sights of investment bankers looking at a fragmented array of players and whiffing M&A potential. The subsequent period of heavy consolidation was halted by the global credit crisis.
The slump did not change the fact that China a buyer of 50% to 60% of the industrys exports is growing, and that about 40% of the business is still in the hands of small players.
"In the medium term, there is a need for further consolidation," says Eduardo Castro Mendivil, CFO of Copeinca, Perus second-largest fishing company. "Prices are a bit high for us now, but maybe not f
Peru’s fisheries are again poised to consolidate. Though the pre-crisis M&A pace may not be matched, opportunity for fundraising is expected.