Miranda & Amado and Echecopar on Cooke’s acquisition of Copeinca
Miranda & Amado has advised Cooke Inc, a Canadian multinational, in the acquisition of Corporación Pesquera Inca (Copeinca). Estudio Echecopar, associated with Baker & McKenzie International, has advised PF Cayman New Holdco Limited, as seller, and Copeinca.
The acquisition is part of Cooke Inc.’s expansion strategy, which aims to strengthen its leadership in the fisheries sector and diversify its global operation in the seafood market.
The transaction was particularly complex due to the need to coordinate with various stakeholders and their interests. In addition, it required collaboration between advisors from various jurisdictions (New York, Peru, Cayman, United Kingdom, Portugal, Norway, London, Canada, among others) in different areas of law, and involved the management of multiple fronts and interests that had to be reconciled simultaneously at the closing date.
Cooke Inc. started as an aquaculture company with a single marine farm and a production capacity of 5,000 salmon in 1985. Over time, it has become a world leader in the seafood sector, with more than 15,000 employees in 15 countries and a leading role in the global seafood industry.
Copeinca was founded in 1994 and has grown to become Peru’s largest fishing company, one of Peru’s largest anchoveta processors and one of the world’s largest producers and exporters of anchoveta fishmeal and fish oil. Copeinca employs more than 2,700 people, operates 45 vessels and manages 8 processing plants along the northern and central coasts of Peru. It has the largest anchoveta quota in the country, with 15.9% of the total, and processes around 21% of the Peruvian national catch.
Miranda & Amado’s team was composed of partners Nathalie Paredes (pictured top left), Guillermo Bracamonte (pictured top centre, left), Alberto Delgado (pictured top centre, right) and Willy Pedreschi (pictured top right), and associates Fabiana Vittoria and Fátima Moquillaza.
Echecopar’s team included partners Steven Canner and Steven Sandretto and senior associate Carolina Gonzalez from New York; partners Pablo Berckholtz (pictured bottom left) and Liliana Espinosa (pictured left), senior associate Juan Francisco del Campo and associate Lara Sarlui in Lima; and senior associates Isabel Carty and Grace Blackburn in London.
