Business & Finance

Published on
October 23, 2017
Sysco

Major North American food distributor Sysco Corporation has confirmed it plans to buy HFM FoodService, one of the largest broadline distributors in the state of Hawaii. Sysco signed a definitive agreement to acquire the Pacific region wholesaler on 17 October.

Founded as a flour mill in 1964, HFM FoodService has grown to generate more than USD 290 million (EUR 246 million) in sales annually, and is now the only Hawaiian broadline food-distri… Read More

Published on
October 20, 2017
First Choice Seafood

Food distributor Enson Group, Inc., has finalized its acquisition of Indianapolis, Indiana-based seafood company First Choice Seafood, the firms announced on 18 October. 

Since its inception in 2002, First Choice Seafood has emerged as a “go-to” vendor for frozen seafood by Indiana’s restaurant industry, and has been able to grow its profitability annually, according to its acquirer.

Through the acquisition, Cincinnati… Read More

By

Jason Holland

Published on
October 19, 2017
Nireus sea bream

Mediterranean sea bass and sea bream producer Nireus Aquaculture SA sold almost 10 percent more fish in the first nine months of this year than it did in the corresponding period of 2016 and in doing so offset the impact of an anticipated price reduction, the company said.

In value terms, Nireus’ sales during the last nine months amounted to EUR 159.1 million (USD 188.2 million), representing an increase of 6.8 percent year-on-year. Exports… Read More

By

Cliff White

Published on
October 18, 2017

Seachill, a leading supplier of chilled fish to the U.K. retail market and owner of retail brand The Saucy Fish Co., has been purchased by British meatpacking firm Hilton Food Group for GBP 80.8 million (USD 106.4 million, EUR 90.4 million).

Hilton confirmed the deal, which had been rumored since August 2017, in a regulatory filing posted on Wednesday, 18 October by the London Stock Exchange. Seachill was sold by the Icelandic Group, which had be… Read More

By

Jason Holland

Published on
October 16, 2017

Thai Union has announced that Elisabeth Fleuriot is stepping down from her role as CEO of Thai Union Europe and that the group will introduce a new management committee structure in Europe as part of its global program to harmonize and streamline operations in all key regions.

Fleuriot is leaving Thai Union to pursue other external opportunities, the company said in a statement.

“Elisabeth has been a strong and highly valued leader of our b… Read More

By

Cliff White

Published on
October 13, 2017

U.S. President Donald Trump has selected AccuWeather CEO Barry Myers to lead the National Oceanic and Atmospheric Administration (NOAA), which oversees management of the country’s fisheries.

Myers has served as the chief executive of State College, Pennsylvania-based weather forecasting firm AccuWeather since 2007. In his new role, he will head an agency with a broad range of responsibilities, including NOAA Fisheries (also known as the Nat… Read More

By

Jason Holland

Published on
October 12, 2017
Irish fishing boats

Ireland’s seafood development agency Bord Iascaigh Mhara (BIM) has launched a new research and development fund to support Irish companies’ innovation in the seafood sector and help grow the EUR 850 million (USD 1 billion) industry in line with government targets.  

An initial EUR 400,000 (USD 472,405) has been provided by BIM this year to support innovation and the development of new technologies of benefit to the seafood sector… Read More

By

Cliff White

Published on
October 12, 2017

In a ruling on Wednesday, 11 October, a federal judge approved the seizure of four of fishing magnate Carlos Rafael’s vessels and their associated permits as punishment for his role in orchestrating a quota and tax evasion scheme out of his New Bedford, Massachusetts-based business, Carlos Seafood.

Rafael was sentenced to a 46-month prison sentence and three years of supervised release, as well as a USD 200,000 (EUR 169,000) fine, in Septem… Read More

By

Steve Bittenbender

Published on
October 10, 2017

Despite a recent decision by the Supreme Court of the United States, a New Hampshire fisherman pledges to continue his fight against having to pay for monitors to accompany them while at sea.

When the court opened its new term last Monday, 2 October, it decided against hearing David Goethel’s case against the U.S. Department of Commerce, allowing the 1st Circuit Court of Appeals ruling to stand. The Hampton fisherman filed suit in Dece… Read More

By

Cliff White

Published on
October 6, 2017

Cooke Aquaculture’s parent company has acquired Texas-based fish oil and fishmeal producer Omega Protein for nearly USD 500 million (EUR 428 million).

The agreement has been unanimously approved by the board of directors of each of Omega Protein and Cooke, according to a press release. Cooke Inc., based in New Brunswick, Canada, and Houston-headquartered Omega Protein agreed to a purchase price of USD 22.00 (EUR 18.81) per share for th… Read More