Cargill invests in Multi X and Mitsui increases its holding

Aerial view of salmon farms in the Reloncaví estuary, Los Lagos Region in southern Chile.
Aerial view of salmon farms in the Reloncaví estuary, Los Lagos Region in southern Chile.

Cargill has purchased 24.5% of shares of Multi X, a subsidiary of Multiexport Foods SA (MEF). Successively, Mitsui & Co. has increased its holding by 1.1% to 24.5%. Thereby, MEF will maintain a 51% share of Multi X, while both Cargill and Mitsui have a 24.5% share each.

According to Mitsui & Co., adding Cargill as a new partner of Multi X will be a strategic and decisive step in the next stage of development of the company. In addition, it seeks to win over the world's consumers with high-quality, value-added, sustainable products sold under the brands of both Multi X and its customers.

On the other side, Cargill will leverage its capabilities across the value chain with this new partnership. Including consumer insights, culinary innovation, value-added processing know-how, risk management, and fish nutrition and health solutions. Consequently, the new partner hopes to provide more customers. Also, more access to Multi X's high-quality portfolio of private-label and branded salmon products.

Mitsui & Co has been a shareholder of Multi X since 2015. The company has contributed to the growth of Multi X through marketing and product development for the Asian market. As confirmed in a press release, Mitsui will continue its contribution to further sustainable growth of Multi X in new scopes. Such as the utilization of DX and waste management.

Finally, while connecting MEFs capabilities and functions, Cargill, and Mitsui will create value for all of Multi X's stakeholders.

Juan Enrique Rosales, General Manager of Cargill Chile, reaffirmed in a press release in April the company's commitment to Chile.

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