Baja Aqua-Farms, a Mexican company engaged in the fishing, processing, and distribution of bluefin tuna, has secured an undisclosed investment from a consortium.
Continental Grain Company, based in New York and in partnership with agri-food giant Cargill, participated in the investor group that acquired the US poultry business Sanderson Farms for $4.5 billion last year.
Organización Cultiba SAB de CV (Cultiba), based in Mexico and the owner of Grupo Gepp, a PepsiCo soft drink bottler in North America, made a contribution. The remaining members of the consortium were the US-based investors Equity Group Investments (EGI) and Castle Harlan.
“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.
Established in 2000, Baja Aqua-Farms asserts itself as a prominent vertically integrated bluefin tuna rancher globally. The company provides fresh and frozen tuna to both retail and foodservice channels, catering to sashimi-grade tuna.
The company’s objective is to produce and distribute the finest quality Pacific bluefin tuna through sustainable and environmentally responsible practices.
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.”
As per the transaction agreement, several executives from the investor group will be appointed to the board of Baja Aqua-Farms. This lineup includes 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 an investor in both the major US food company Kraft Heinz and the Hissho Sushi chain.