Blue Ocean completes Kona Blue acquisition

By

SeafoodSource staff

Published on
June 3, 2012

Blue Ocean Mariculture has completed its acquisition of the hatchery and offshore aquaculture assets of Kona Blue Water Farms.

This is the final step in Blue Ocean’s transition to become the exclusive producers of kampachi in Hawaii.

The two-year transition from Kong Blue to Blue Ocean involved recapitalizing the business and rebuilding the Hawaiian Kampachi biomass inventory. Blue Ocean acquired Kona Blue’s offshore mariculture lease in early 2010. The marine finfish hatchery was acquired in January 2011 and in May Blue Ocean completed its first larval run of Hawaiian Kampachi. Those fish are now being harvested and sold throughout the United States.

Kona Blue officially dissolved in November and the co-CEOs, Neil Sims and Michael Bullock, did not transition to the new company, which is headed by Todd Madsen, its president.

“We’ve successfully restarted the Seriola hatchery and the offshore mariculture site is now running smoothly,” said Madsen. “Product quality is better than it’s ever been and we’ve had excellent response from customers over the past few month as we’ve introduced Hawaiian Kampachi.”

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