Salmon farmer Cooke nets 16% of Peruvian anchoveta quota

Global fish farmer Cooke Inc. has signed a deal to buy one of the world’s largest fishmeal and fish oil producers and exporters, Corporación Pesquera Inca S.A.C. (Copeinca).

Copeinca was established in 1994 and has grown to become Peru’s largest fishing company with 2,770 employees, 45 vessels and eight processing plants that span the north and centre coastline of Peru. The company holds the largest anchoveta (Enaraulis ringens) quota in Peru at 15.9% and processes approximately 21% of the country’s total catch for annual production of approximately 200,000 tonnes of fishmeal and 23,000 tonnes of fish oil.

Peruvian anchoveta are regarded as the gold standard of fish used for the production of omega-3 long chain fatty acids essential for growing salmon and other farmed fish, although supply and price of the forage fish are subject to fluctuating catch quotas.

Stronger ingredients supply

Family-owned Cooke, based in New Brunswick, Canada, already operates a forage fishing and fishmeal/oil production subsidiary – Omega Protein - in North America. Omega uses menhaden caught in certified fisheries.

Cooke, which also operates its own feed mills, said the acquisition of Copeinca will strengthen its growing marine ingredients business and diversify its geographic and species portfolio.

“There is tremendous compatibility between Cooke and Copeinca, and we’re excited to welcome Copeinca’s dedicated employees to the Cooke family of companies,” said chief executive Glenn Cooke.

“High quality fishmeal and fish oil are essential animal and human nutritional ingredients. They ensure a safe and wholesome feed supply for the growth and care of animals in several farming groups, including aquaculture. We believe Copeinca will be a major contributor in furthering Cooke’s growth as a leader strengthening global food security.”

Multiple certifications

Cooke said Copeinca holds numerous industry certifications including MarinTrust, Friend of the Sea, ISO 14001, ABE, BASC, GMP+, and HACCP.

The acquisition is subject to customary closing conditions and is expected to close in November.

Cooke is the largest private family-owned seafood company in the world employing 13,000 people worldwide and operating in 14 countries.

It farms Atlantic salmon in Atlantic Canada, Maine in the United States, Scotland (Orkney and Shetland), Chile, and in Tasmania, where it owns salmon, shrimp, and barramundi farmer Tassal. According to figures in the 2024 Salmon Farming Industry Handbook published by salmon giant Mowi, Cooke harvested 59,000 gutted weight tonnes of Atlantic salmon in North America last year, and 32,000 gwt in Scotland, along with smaller volumes in other regions.

Cooke also farms seabass and sea bream in the Mediterranean, and shrimp in Honduras and Nicaragua.

Cooke's feed facilities include Northeast Nutrition Scotland, a feed mill in Invergordon.