Cooke Inc. (“Cooke”) announced that it has signed a memorandum of understanding under which it will acquire from lenders thereof the existing debt facilities of Avramar Aquaculture S.A., Andromeda S.A., Perseus S.A. and Avramar Commercial and Logistics S.A. (“Avramar Greece”), a leading producer of farmed sea bass and sea bream in Greece.
Together with Cooke’s existing agreement to acquire the share capital of Avramar Greece, upon closing, Cooke will acquire operational control of Avramar Greece.
The original companies comprising the Avramar Greece group were established in 1981, and the business has since evolved into a leading force in Mediterranean aquaculture. It is a vertically integrated operation which includes hatcheries, marine farming units, processing and packaging facilities, as well as fish feed production.
The company’s sustainability certifications are recognised by the Global Sustainable Seafood Initiative (GSSI) and the Global Food Safety Initiative (GFSI).
The acquisition is subject to definitive documentation and customary closing conditions and is expected to take place as soon as possible.
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