Agrosuper evaluates acquisition of Blumar's salmon business, transaction consideration up to USD 540 million

Chilean company Agrosuper submitted a material event report to the Chilean Financial Market Commission (CMF) on November 9, 2026, confirming that it is evaluating the acquisition of Blumar's salmon business division. The two companies signed a memorandum of understanding on August 24, 2026, setting the initial conditions for formally launching the transaction analysis stage.

According to the document submitted by Agrosuper, the proposed transaction covers the acquisition of all shares of Blumar's salmon business, with consideration of up to USD 540 million, excluding debt and cash. The document further states that USD 40 million of this amount will be contingent on the achievement of specific expansion and production development targets.

The scope of the business to be acquired includes the farming, breeding, harvesting, processing and commercialization of salmonids and related supporting activities. Agrosuper explicitly stated in the report that there is no guarantee the transaction will succeed, and that final closing depends on the results of due diligence, the progress of commercial negotiations, and approval by competent authorities including the National Economic Prosecutor's Office (FNE). Due diligence will review the financial, accounting, legal, sanitary and environmental aspects of the relevant assets.

Regarding the timetable, the document stipulates a period of 60 consecutive days for due diligence and negotiations, extendable by a further 30 days; negotiations are currently ongoing. The document also mentions that the parties have adopted a "clean team" agreement to regulate interactions and information exchange between them during the transaction negotiations. This model uses a dedicated and independent team to review strategic corporate information, ensuring that these personnel do not participate in the company's day-to-day commercial activities.

Meanwhile, the Chilean salmon industry is undergoing a wave of strong consolidation activity. Ventisqueros, owned by the Schörghuber Group, may be put up for sale again, having already attracted interest from companies such as Multi X. The company attempted to sell its assets in 2022, attracting attention from JBS at the time, but the transaction was shelved in early 2023 due to the unfavorable global situation at the time.