Business & Finance

California-based surimi producer Aquamar has partnered with New Jersey’s LM Foods to create what the companies are calling “a new platform in the surimi seafood market,” according to a 17 August announcement.

The companies will focus on selling crab-flavored seafood product to North American foodservice, food manufacturing and retail channels. Founded in 1991 by company president Hugo Yamakawa and vice president of operations Ta… Read More

Chinese shellfish and processing firm Zoneco (Zhangzidao) is crediting a ramp up in its stores with a 12.6 percent year-on-year increase in revenue for the first half of 2017. 

The firm now claims to have 4,000 stores operating across China selling its processed and fresh seafood products –including imports. Zoneco attributes a 242 percent year-on-year jump in profits for the first half of the year to “superior all-channel”… Read More

York, Maine-based live lobster wholesaler Maine Coast has been named to the Inc. 5,000 list of fastest growing, privately-held companies in the United States.

Ranked at No. 2,749 on the list by the publication Inc., Maine Coast attributes its latest successes in part to its strategic growth and reinvestment strategy, which focuses on innovation, logistics and infrastructure, as well as employee professional development. 

"We are thrille… Read More

Young’s recently secured a big contract to supply Pret a Manger, and its sales spiked in its most recent quarter.

Young’s Seafoods sales climbed 11.6 percent to GBP 132 million (USD 169 million, EUR 145 million) for the third quarter ending 1 July, but earnings dropped 5 percent to GBP 5.2 million (USD 6.6 million, EUR 5.7 million).

“This was another quarter of year on year sales growth across both frozen and chilled temperature… Read More

On 7 August, Tokyo-based Maruha Nichiro Corporation reported financial results for the period from April-June, the first quarter of fiscal 2018. The company’s consolidated ordinary profit was around JPY 8.5 billion yen (USD 77,562,500; EUR 65,734,871), up 30 percent from the same period last year. 

The increase in yen terms was mainly due to foreign exchange gains resulting from the weaker yen—about 10 yen lower against the dolla… Read More

As Target expands further into fresh seafood, it has strategically hired two new executives to fill food leadership roles.

Mark Kenny, formerly the senior director of private brands, deli and bakery for Walmart, was named the vice president of meat and fresh foods at Target. Kenny will oversee the meat, seafood, deli, bakery and the prepared foods category.

“The prepared food space is growing rapidly in the U.S., and Kenny will help sharpen… Read More

Henry Demone, who served as High Liner Foods’ CEO from 1992 to 2015 and as its current chairman of the board, has been appointed as the company’s CEO once again. 

Keith Decker, who was named CEO in 2015, is leaving the company, the Lunenberg, Nova Scotia, Canada-based supplier of several major frozen seafood brands said in a statement. High Liner did not give a reason for Decker’s departure.

"The Board and I are confident t… Read More

Sea Harvest Corporation (Pty.) Ltd. has acquired the Þerney RE 1 freezer trawler from HB Grandi and will take delivery of the vessel in November.

The South African fishing and processing company paid USD 13.5 million (EUR 11.4 million) for the vessel which was constructed in 1992 and has been operated by HB Grandi since its arrival in Iceland in 1993.… Read More

Sea fisheries, aquaculture and processing businesses in Scotland will receive a share of GBP 8.4 million (USD 10.9 million, EUR 9.3 million) funding to boost growth and protect jobs in coastal communities.

It has been confirmed by Scottish government that the latest round of the EU’s European and Maritime Fisheries Fund (EMFF) will deliver 86 projects that will help businesses to upgrade or modernize equipment across the country.

New grants… Read More

Long recognized as the top player in China’s fish/shrimp feed market, Guangdong Haid Group is one of only a handful of seafood related companies to make the Fortune list of the 500 largest Chinese companies. 

At 231st place, Guangdong Haid, however, saw its ranking slip, going down from 215 in 2016. Meanwhile, The Tongwei Group, which produces aqua feed but also tilapia, saw its ranking improve from 367 (2016) to 290 (2017). 

Both… Read More