Chilean conglomerate Agrosuper announced on Sunday it has acquired 99.71% of Empresas AquaChile.

Firstly Agrosuper announced a takeover for AquaChile in December 14 receiving the approval to acquire 67%, the stakes owned by Puchi and Fischer families. Finally they launched a takeover offer to the remaining 33% shareholders acquiring 99,71% of AquaChile.

The deal, which is reported to be worth up to $850 million, creates the second-largest salmon farmer in the world behind Mowi (Marine Harvest).

Agrosuper produces and sales salmon in Los Fiordos and its acquisition Salmones Friosur. AquaChile is a salmon, trout and tilapia producer and recently acquired Salmones Magallanes. Together they will produce 200,000 tonnes annually.