What is Multi X?

Multi X operates as a vertically integrated Chilean salmon farming company producing Atlantic salmon, salmon trout, and mussels for global markets. The company processes approximately 115,000-120,000 metric tons of salmonids annually through operations spanning Chile's Los Lagos, Aysén, and Magallanes regions. Multi X markets fresh, frozen, and smoked salmon products to more than 30 countries across the Americas, Europe, and Asia through branded consumer products and B2B channels.

The company operates under a fully vertical business model encompassing genetic selection, freshwater hatcheries, seawater farming, processing facilities, and international distribution. Multi X maintains two processing plants in Chile's Regions X and XII with combined installed capacity for approximately 75,000 tons of raw material annually. The operation cultivates salmon across 106 seawater concessions distributed among 25 farming neighborhoods to maintain production continuity and manage sanitary rest periods.

Multi X rebranded from Multiexport Foods S.A. in September 2021, with the name representing the company's focus on extraordinary experience and product excellence. The company positions itself as Chile's second-largest salmon producer and maintains operations across five southern Chilean regions, employing approximately 2,400-4,500 people across 22 municipalities and 38 localities.

Corporate Foundation

Multi X was founded in 1987 as Multiexport Foods S.A. by Chilean entrepreneurs including José Ramón Gutiérrez, Martín Borda, and Carlos Pucci Labatut. Company materials indicate origins trace to the mid-1980s in Puerto Montt, Chile, when founders identified export opportunities in Chile's emerging aquaculture sector, initially producing and exporting various seafood products before specializing exclusively in salmon.

The company operates as a publicly traded entity on the Santiago Stock Exchange under the ticker symbol MULTIFOODS. Multiexport Foods S.A. serves as the parent holding company, with primary operations conducted through subsidiary Salmones Multiexport S.A. The company headquarters is located at Boulevard Cardonal 2501, Puerto Montt, Los Lagos Region, Chile (postal code 5501997).

In March 2022, the company completed a strategic partnership transaction whereby Cargill acquired 24.5% of Salmones Multiexport S.A. shares and Mitsui & Co., Ltd. (initial investor since 2015) increased its shareholding to 24.5%. Multiexport Foods S.A. maintains controlling interest with 51% ownership. Company materials indicate the transaction valued at approximately USD 300 million aimed to combine capabilities across the value chain including consumer insights, value-added processing, and fish nutrition solutions.

Production Infrastructure

Multi X operates a vertically integrated production system spanning from genetic selection through final distribution. The company maintains proprietary genetic selection programs using company-owned broodstock kept in land-based freshwater facilities.

Freshwater Operations

The freshwater phase encompasses incubation, fry, and smoltification stages conducted in land-based hatcheries. Multi X operates multiple hatchery facilities where juvenile salmon develop from eggs through the smolt stage before transfer to seawater. In 2021, the company established Multisea, a 50-50 joint venture with Sealand Aquaculture, constructing a recirculating aquaculture system (RAS) facility in the Pargua sector of Los Lagos Region. 

Company materials indicate Multisea reached operational status in 2022-2023 with designed capacity of 6.5 million post-smolts ranging from 170-500 grams, equivalent to approximately 2,000 metric tons annually. The RAS technology produces larger smolts to reduce seawater grow-out duration and improve fish health performance.

Seawater Farming

According to company disclosures, Multi X maintains 106 seawater concessions distributed across 25 farming neighborhoods (Agrupaciones de Concesiones Sanitarias - ACS) in Chile's Los Lagos (Region X), Aysén (Region XI), and Magallanes (Region XII) regions. Fish are transferred to sea cages at approximately 150 grams and grown to harvest weight of approximately 4.5-5 kilograms for Atlantic salmon and 2.5-3 kilograms for trout and coho salmon. Company materials indicate operations span diverse geographic zones to optimize biosecurity and production continuity during mandatory sanitary rest periods.

In 2020, Multi X ceased all farming operations in Chile's freshwater lakes Rupanco and Llanquihue, closing three Coho salmon farming centers with combined annual production of approximately 1,000 tons. Company statements cited sustainability commitments and transition to land-based smolt production as rationale for the closure.

Processing Facilities

Multi X operates two processing plants with distinct specializations. Company materials indicate one facility processes fresh and frozen salmon products while a dedicated second plant handles smoked product development. The plants are located in Regions X and XII with combined installed capacity documented at approximately 75,000 tons of raw material annually. According to 2015 disclosures, the company processed 68,400 tons that year. The smoked salmon operation represents a specialized product line with documented processing capacity exceeding industry standards for value-added transformation.

Processing capabilities include whole fish, fillets, portions, and various smoked preparations using Chilean oak wood and locally sourced salt. Company materials emphasize rapid processing timelines, with the Latitude 45 brand marketed as going from fresh to smoked within 24 hours of harvest.

Product Portfolio

Multi X markets salmon products through a tiered brand architecture targeting different market segments and price points.

ArkA Brand

Launched in 2021 for fresh and frozen products and expanded to smoked items in 2024, ArkA represents the company's ultra-premium line. Products originate exclusively from Magallanes Region (Region XII) operations in southern Chilean waters. ArkA products are marketed as antibiotic-free certified, Aquaculture Stewardship Council (ASC) certified, and Best Aquaculture Practices (BAP) 4-Star certified. Company materials indicate the brand name derives from the Kawésqar indigenous language meaning "heaven." ArkA offers fresh, frozen, cold-smoked, and hot-smoked Atlantic salmon formats targeting fine dining and premium retail in North American and European markets. Company documentation claims 2,470 mg omega-3 content per 3-ounce serving.

Latitude 45 Brand

Latitude 45 serves as Multi X's premium mainstream brand, launched in 2017 for the U.S. market. Products include fresh, frozen, and various smoked salmon preparations certified under BAP 4-Star, ASC, and Orthodox Union Kosher standards. The brand achieved recognition as a top-selling smoked salmon brand in the United States according to company marketing materials. Product innovations include Smoked Salmon Candy Bites (winner of Best Retail Packaging at 2024 Seafood Excellence Global Awards) and Smoked Chipotle Salmon, both launched in 2024. Company materials indicate Latitude 45 products are available at major U.S. retailers including Walmart, Costco, BJ's Wholesale Club, Winn-Dixie, and Meijer. The brand expanded to Asian markets in 2020, entering Singapore through Dairy Farm retail chain with plans for Malaysian market entry.

Multi X Brand

The core Multi X brand encompasses standard fresh, frozen, and lightly smoked products serving B2B channels, food service, and private label markets. These products carry BAP certification and target mid-market price points.

Additional Product Lines

Multi X produces salmon trout and mussels as secondary product categories. Company disclosures indicate ongoing product development focused on convenience formats, grab-and-go packaging, and ready-to-eat preparations responding to evolving consumer preferences for meal solutions requiring minimal preparation.

Certifications & Quality Standards

MANDATORY DISCLAIMER: The following certifications are referenced in company materials and certification databases. AgriLinkage has not independently verified current validity, scope, or compliance status. Certification standing can change based on audit outcomes. Buyers requiring certified products should request current documentation directly from the supplier and verify validity with issuing bodies.

Aquaculture Certifications

Aquaculture Stewardship Council (ASC): Company materials indicate approximately one-third of Multi X's productive facilities operate under ASC certification standards as documented in 2023 sources. ASC certification addresses environmental and social responsibility in aquaculture operations including water quality, biodiversity impacts, waste management, disease control, and labor conditions. The Cardonal processing plant holds ASC Chain of Custody (CoC) certification. ASC is administered by the Aquaculture Stewardship Council, an independent non-profit organization.

Best Aquaculture Practices (BAP): According to company disclosures, all Multi X productive facilities operate under BAP standards. Multiple product lines carry BAP 4-Star certification, representing compliance across the entire production chain from hatchery through processing. BAP is administered by the Global Aquaculture Alliance and evaluates environmental responsibility, social accountability, food safety, and animal welfare. Company strategic goals documented in 2022-2023 target 100% of facilities under BAP standards and 40% under ASC by 2024-2025.

Product-Specific Certifications

Antibiotic-Free (ABF) Certification: ArkA brand products marketed as certified antibiotic-free. Company materials from 2023 indicate more than 25% of overall production uses no antibiotics, with targets of 60% antibiotic-free production in Magallanes operations by 2024-2025.

CarbonNeutral® Product Certification: Multi X launched CarbonNeutral® certified salmon products in 2022-2023 for specific frozen Atlantic salmon items. Certification managed by Climate Impact Partners requires offsetting carbon emissions through verified carbon reduction and removal projects.

Orthodox Union (OU) Kosher: Latitude 45 brand products carry OU Kosher certification, administered by the Orthodox Union certifying products meet Jewish dietary law requirements.

Market Distribution

Multi X exports to more than 30 countries spanning the Americas, Europe, and Asia. The company operates international distribution through subsidiary Multiexport Inc. (USA), headquartered in Miami, Florida, serving as the primary distribution hub for North American markets.

Geographic Markets

United States: Company materials identify the U.S. as Multi X's largest single market, historically representing approximately 50% of total sales volume. The company distributes through major retail chains, club stores, and food service channels. Multi X positions itself as one of the largest importers of salmon products into the United States.

Latin America: Multi X serves regional Latin American markets through direct export and distribution partnerships. Specific country details not disclosed in available sources.

Asia: Primary Asian markets include Japan (historically significant market), China, Korea, Southeast Asia, with documented entry into Singapore in 2020. Company materials indicate plans for expansion into Malaysia and other Southeast Asian territories.

Europe: Distribution encompasses Russia, Central Europe, and other European markets. Specific country-level details not extensively documented in available sources.

Domestic Chile: Company statements from 2021 rebranding indicate development of national market strategy to increase Chilean consumer access to salmon products across different formats and price points.

Distribution Channels

Multi X employs a multi-channel distribution strategy encompassing direct retail relationships, food service operators, distributors, and private label manufacturing. The vertically integrated model enables the company to serve both branded consumer products and bulk B2B commodity markets. Company materials emphasize retail presence in mass-market chains, club stores, and specialty grocers for branded products while maintaining food service relationships with restaurants and institutional buyers.

Sustainability Initiatives

DISCLAIMER: The following represents publicly stated initiatives documented in company materials. Independent verification of implementation would require third-party assessment.

Sustainability Index Rankings

Multi X became the first salmon producer globally to achieve inclusion in both the Dow Jones Sustainability Index (DJSI) and Coller FAIRR Protein Producer Index according to company materials from 2019-2020. The DJSI, administered by S&P Dow Jones Indices and RobecoSAM, evaluates corporate economic, environmental, and social performance, including the top 10% of sustainability performers from the largest 2,500 global companies. 

Multi X improved its DJSI ranking by 6 percentage points in 2020 compared to 2019 within the "Food Products" industrial sector. The Coller FAIRR Protein Producer Index, managed by Farm Animal Investment Risk & Return initiative, analyzes environmental, social, and governance (ESG) performance of publicly traded protein producers globally. Company materials from 2020 indicate Multi X ranked fifteenth globally and highest among Chilean companies in the FAIRR index.

Environmental Commitments

Carbon Neutrality Target: Company materials document commitment to achieve carbon neutrality across operations by 2030. Multi X launched select CarbonNeutral® certified products in 2022-2023 as initial steps toward this goal.

Zero Waste to Landfill: According to company disclosures, Multi X achieved zero waste to landfill status at processing plants in 2020, with company-wide target completion by 2025. This initiative redirects processing waste from landfills to alternative uses.

Lake Farming Cessation: In 2020, Multi X ended all salmon farming in freshwater lakes Rupanco and Llanquihue, closing three farming centers. Company statements cite environmental stewardship and transition to land-based smolt production as drivers for the decision.

Antibiotic Reduction: Company materials document targets for 60% additional reduction in antibiotic usage by 2025, with focus on increasing antibiotic-free production particularly in Magallanes region operations.

Social Initiatives

Multi X implements community engagement programs documented at approximately 1,800 hours annually of direct employee-community interaction across the 22 municipalities and 38 localities where operations are present. The company operates a "Banco de Proyectos Multi X" (Multi X Project Bank) supporting local community initiatives identified and prioritized by residents, with employee participation as "Ciudadanos Multi X" (Multi X Citizens) accompanying projects through implementation.

Company materials indicate approximately 40% of the workforce consists of women employed across various levels and functions. Multi X participates in local education initiatives including technology equipment donations to rural schools.

Production Performance

Multi X production volumes documented in public sources show the following trajectory:

2019-2020 Period: Company materials indicate handling approximately 100,000 metric tons of salmon annually with plans to increase to 125,000 metric tons by 2023. According to Mowi industry handbook data cited in 2022 sources, Multi X produced 85,200 metric tons head-on-gutted (HOG) of Atlantic salmon in 2020, positioning as Chile's second-largest producer.

2023 Performance: Company disclosures indicate total harvest of 116,251 metric tons of salmonids in 2023, comprising 95,894 tons in Los Lagos and Aysén regions and 20,356 tons in Magallanes region. This represented reported historical production growth for the company.

2024 Projections and Performance: Multi X projected 2024 production in the range of 115,000-120,000 metric tons. However, 2024 results documented production decline to approximately 89,000 metric tons, a 23% reduction compared to 2023. Company statements attributed reduced volumes to sanitary and operational challenges affecting production and export availability.

Company financial performance showed 2024 losses of approximately USD 3 million, improved from USD 6 million losses in 2023. Contributing factors documented include lower production volumes, market price pressures, increased production costs (particularly feed prices), and operational challenges. The company reported 2024 debt levels of USD 935 million, representing a 29.7% increase, while total equity declined 51.7% to USD 195 million.

Information Currency and Verification

This company profile reflects publicly available information from Multi X corporate website, Chilean Financial Market Commission (CMF) regulatory filings, Seafood Source industry publications, Chilean aquaculture trade media, sustainability index reports (DJSI and FAIRR), certification body databases (ASC, BAP), and corporate press releases. Time-sensitive data including production volumes, facility counts, certifications, ownership percentages, and financial performance may change.

Production volume figures represent company-disclosed data and may vary based on biological performance, market conditions, sanitary events, and operational factors. Certification validity and compliance status can change based on audits and operational changes. Buyers requiring certified products should request current documentation from the supplier and verify validity with certification bodies including Aquaculture Stewardship Council, Global Aquaculture Alliance (BAP), and Orthodox Union.

AgriLinkage has not conducted independent verification of operational capabilities, facility conditions, biosecurity protocols, product specifications, or compliance claims. Commercial parties should conduct independent due diligence appropriate to their transaction requirements, including facility inspections, product sampling, certification verification, and third-party quality assessments.

Market positioning claims such as "largest importer to U.S." or "#1 selling brand" reflect company marketing statements and have not been independently verified against competitor data. Sustainability commitments and targets represent stated goals whose achievement would require independent monitoring and verification.

Accessing Current Information

Buyers and commercial partners should contact Multi X directly for current production capabilities, available volumes, product specifications, certification status, pricing, and delivery terms. Official contact channels include:

Corporate Headquarters:
Multi X (Multiexport Foods S.A.)
Boulevard Cardonal 2501
Puerto Montt, Los Lagos Region, Chile
Website: www.multi-xsalmon.com

U.S. Operations:
Multiexport Inc. (USA)
Miami, Florida, United States

Potential buyers should request:

• Current certification documentation with validity dates and scope

• Production volume availability and delivery timelines

• Product specifications including size grades, quality parameters, and processing formats

• Traceability documentation and farm origin details

• Third-party audit reports where applicable

• References from existing customers in relevant market segments

Commercial parties should conduct appropriate due diligence including:

• Verification of current certification status with issuing bodies

• Review of recent third-party audit reports

• Assessment of production capacity against required volumes

• Evaluation of quality control processes and food safety systems

• Confirmation of export licensing and regulatory compliance for destination markets

• Establishment of clear specifications, quality standards, and acceptance criteria

• Legal review of supply agreements and commercial terms

Conclusion: Multi X's Position in Chilean Salmon Production

Multi X operates as a significant vertically integrated producer in Chile's salmon farming industry with documented annual production in the range of 89,000-116,000 metric tons across recent years. The company distinguishes itself through multi-brand product architecture spanning ultra-premium antibiotic-free (ArkA), premium mainstream (Latitude 45), and standard commercial offerings across fresh, frozen, and smoked formats. Multi X's vertical integration from genetic selection through international distribution, combined with strategic partnerships with Cargill and Mitsui, positions the company for diverse B2B and branded consumer market access.

The company's documented presence in sustainability indices (DJSI and FAIRR) and pursuit of certification standards (ASC, BAP) reflects alignment with evolving buyer requirements for environmental and social responsibility verification. However, 2024 performance challenges including production declines and financial losses indicate operational vulnerabilities that potential buyers should assess through direct inquiry and due diligence.

For buyers sourcing Chilean Atlantic salmon, Multi X represents an established option with broad geographic coverage, multiple processing capabilities, and documented access to major retail and food service channels. The tiered brand structure enables product positioning across price points and market segments. Buyers should verify current production capacity, certification validity, and delivery capabilities directly with the company, as aquaculture operations face inherent biological and environmental variabilities affecting supply consistency.

This profile provides background context for initial supplier evaluation. Current commercial engagement requires direct contact with Multi X to confirm operational status, available volumes, specifications, and terms aligned with specific sourcing requirements and quality standards.