BUSTAMANTE FABARA advises Mitsui & Co. in the acquisition of a stake in Industrial Pesquera Santa Priscila (IPSP), consolidating its position in the global Shrimp Industry
February, 2024 - Ecuador
In a strategic move to strengthen its foothold in the global shrimp industry,Mitsui & Co.,Ltd has successfully acquired a stake in IndustrialPesquera Santa Priscila (IPSP), recognized as the leading shrimp farming enterprise worldwide, based in Ecuador.BUSTAMANTE FABARAadvised Mitsui on the successful closure of the transaction that took place in February 2024.
Given shrimp’s pivotal role in meeting the burgeoning demand for sustainable protein sources amid the global population and economic growth, this acquisition is timely. Shrimp, known for its low-calorie and high-protein benefits, along with a quick production cycle and efficient feed conversion, is particularly appealing to the health-conscious segment. Ecuador, positioned at the forefront of the global shrimp farming and export sector, will witness a collaborative effort between Mitsui and the founding team of IPSP. This partnership is set to drive enhancements in productivity and operational efficiencies, aiming to exceed customer expectations while upholding the highest standards of social responsibility, environmental stewardship, and product quality. This initiative further aims to cement IPSP’s leadership in the sector’s ongoing modernization efforts.
This investment in IPSP aligns with Mitsui’s strategic focus on the shrimp industry’s evolving landscape, which is characterized by increasing industrialization and concentration. Mitsui’s prior investment in Minh Phu Seafood, the largest shrimp processing company globally located in Vietnam, back in 2019, underscored its commitment to bolstering its shrimp processing and sales capabilities. By extending its value chain to encompass upstream activities like breeding, feed production, and farming, Mitsui is poised to emerge as a dominant force in the global shrimp industry.
Underlining its commitment to Wellness Ecosystem Creation, identified as a Key Strategic Initiative in its Medium-term Management Plan 2026, Mitsui is dedicated to contributing to the enhancement of life quality through the provision of healthy food options. This investment signifies Mitsui’s intent to infuse added value into its food and nutrition business cluster, with the overarching goal of supporting the achievement of a richer, healthier, and more vibrant life for people globally, by promoting health and well-being through dietary improvements.
