Baja Aqua-Farms, a bluefin tuna fisher, processor and distributor in Mexico, has netted an undisclosed investment from a consortium.
New York-headquartered Continental Grain Company, which along with agri-food giant Cargill acquired US poultry business Sanderson Farms last year in a $4.5bn deal, was part of the investor group.
Mexico’s Organización Cultiba SAB de CV (Cultiba), which owns Grupo Gepp, a bottler of PepsiCo’s soft drinks in the North American country, also contributed. US-based investors Equity Group Investments (EGI) and Castle Harlan made up the remainder of the consortium.
“The partnership provides strategic support and a source of additional capital for the company to meet the growing demand in the seafood industry,” according to a statement from Baja Aqua-Farms, which operates out of Baja California in Mexico.
Founded in 2000, Baja Aqua-Farms claims to be “one of the world’s leading vertically integrated bluefin tuna ranchers”, supplying fresh and frozen tuna to the retail and foodservice channels, including sashimi grade tuna.
The company says its “mission is to produce and distribute the highest quality Pacific bluefin tuna in a sustainable and environmentally responsible manner”.
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Manuel Vazquez, the CEO of Baja Aqua-Farms, said of the consortium investment: “Their combined operational expertise will be a major asset in driving the growth and expansion of our business going forward.
“In addition, the incoming investor group shares our passion to remain a leader in environmentally sustainable practices, offering unique opportunities for our customers, suppliers and employees.”
Under the terms of the transaction, a selection of executives from the investor group will join the Baja Aqua-Farms’ board. They include Ignacio Sanz from Continental Grain Company, Juan Ignacio Gallardo Thurlow from Cultiba, Rahul Sen from EGI, and Patrick Zyla from Castle Harlan.
Continental Grain Company is also an investor in US food major Kraft Heinz and the Hissho Sushi chain.
Just Food has approached each of the investors for comment on the transaction.
