Chile’s Camanchaca Successfully Completes the Sale of Its Ecuadoran fishing Subsidiary Centromar S.A.

Glacier Securities Acts as Lead Advisor to Camanchaca

NEW YORK--(BUSINESS WIRE)--Glacier Securities LLC, the New York-based subsidiary of Iceland’s Islandsbanki, acted as lead advisor providing investment banking services to Compania Pesquera Camanchaca S.A., one of Chile’s leading seafood producers and exporters, in its successful sale of Pesquera Centromar S.A., its wholly-owned fishing and fishmeal subsidiary in Ecuador, to a group of investors led by Peru’s Congelados Peruana del Pacífico - CONPEPAC S.A. and Profish Trading S.A. The transaction closed expeditiously after a detailed due diligence by the buying consortium. Glacier Securities acted jointly with Rainmaker Ltda., its strategic partner in Chile.

“Both the Camanchaca management team as well as the buyers kept the sale/purchase process focused and highly professional. We expect further consolidation in the global seafood industry and Glacier to be an active participant in assisting our clients around the world in shaping this process.”

Pesquera Camanchaca. S.A. (SNSE: CAMANCHACA) is a leading Chilean producer of salmon, trout, fishmeal and fish oil, frozen and canned fish, mussels, scallops and abalones. The company controls approximately 20% of the Chilean pelagic quotas. Camanchaca markets some of its products in the US under the well-known seafood brand Pier 33.

Mr. Ricardo Garcia Holtz, CEO of Camanchaca states that “This is an important step for Camanchaca and it shows our commitment to continue focusing the company’s energy and financial resources on our core businesses in Chile, namely salmon and pelagic fishing. The new owners of Centromar have ample experience in the fishing business and we trust they will take the company into its next growth phase.”

Ignacio J. Kleiman, CEO of Glacier Securities, commented that the transaction was completed expeditiously and without obstacles or material findings in the due diligence. “Both the Camanchaca management team as well as the buyers kept the sale/purchase process focused and highly professional. We expect further consolidation in the global seafood industry and Glacier to be an active participant in assisting our clients around the world in shaping this process.”

Mr. Garcia Holtz notes: “Glacier’s team of specialized investment bankers focused in the Seafood Industry has a very unique understanding of our business, and it counts with an unparalleled global network of contacts and investors in the Seafood sector. These competences, coupled with Rainmaker’s support in Chile, was an important factor in this transaction’s execution in a quickly, effectively and confidential manner.”

About Glacier Securities LLC (www.GlacierSecurities.com)

Glacier Securities, LLC ("Glacier") is a wholly owned subsidiary of Íslandsbanki hf. (www.Islandsbanki.is), one of Iceland’s largest commercial banks, and has a strong focus on the Seafood Industry. Based in New York, Glacier offers knowledge-based strategic and financial advisory services to corporate clients, primarily in the Seafood Industry.

Glacier’s experienced professionals provide a wide range of senior level investment banking services, including domestic and cross-border mergers and acquisitions advice, valuations and fairness opinions, due diligence, capital raising and balance sheet restructuring advice. Members of the investment banking team at Glacier have participated in various capacities in several benchmark advisory transactions in the Seafood Industry.