Atlantis expands into U.S. market

By

SeafoodSource staff

Published on
July 6, 2010

In a move that will result in the development of a new seafood company, Atlantis Group recently announced that it exchanged all of the issued and outstanding capital stock of Kali Tuna, its northern bluefin tuna subsidiary.

In exchange, the multinational aquaculture company received 7.3 million newly restricted shares of U.S.-based Lions Gate Lighting Corp., which will be renamed Umami Sustainable Seafood.

Croatian-based Kali Tuna will be the cornerstone of Umami and will market a substantial proportion of its bluefin tuna production in Japan, using Atlantis Group as its sales agent.

“Building on the success of Kali Tuna and our sales expertise, we intend to become the leader of the northern bluefin tuna industry,” said Oli Steindorsson, chairman and CEO of Lions Gate.

“The growth of Umami will be founded on the sustainable management of resources and economically sound practices of Kali Tuna, seeking opportunities resulting from market consolidation and scientific progress in the field,” added Steindorsson. “Umami will do its best to leverage the trust in key markets built by its majority owner Atlantic Group. We are already in negotiations with companies which we view as important targets in our strategic plan and expect to finalize these negotiations in the coming months.”

All Aquaculture stories >

Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500