Chile's Blumar partners up to increase salmon sales in U.S., Canada

Thu Sep 29, 2016 12:35pm EDT
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SANTIAGO (Reuters) - Chile-based salmon producer Blumar BLU.SN said on Thursday it has agreed a partnership with peer Productos del Mar Ventisqueros to work together to sell to "large retail and food service" chains in the United States and Canada.

"This strategic alliance to sell Chilean salmon in the United States and Canada, seeks to achieve sales volumes big enough to supply salmon to the big retail and food service chains, which you can only sell to with significant salmon volume levels," said Blumar in a statement.

Under the agreement, Ventisqueros will take a 50 percent stake in Blumar's U.S.-based merchandising unit. The transaction is expected to be completed in October.

The terms of the agreement were not disclosed.

Chile is the world's second-largest salmon producer.

(Reporting by Anthony Esposito; Editing by Alan Crosby)