Canadian aquaculture company Cooke has signed a memorandum of understanding to acquire the existing debt facilities of Avramar Aquaculture, Andromeda, Perseus, and Avramar Commercial and Logistics from their lenders.
This agreement, combined with an existing deal to acquire the equity of the group, will grant the company operational control of the Greek marine aquaculture producer upon closing.
Based in Athens, the target entities collectively known as Avramar Greece produce sea bass and seabream. The company stated that its vertically integrated operations include hatcheries, marine farm sites, processing and packaging facilities, and feed production.