Fortune International acquires CCT Logistics
Fortune International has announced the acquisition of Theodore, Alabama, U.S.A.-based CCT Logistics Inc., a 68,000-square-foot cold storage facility.
The acquisition, Fortune said in a release, will help the company service the U.S. Gulf states of Alabama, Mississippi, Louisiana, and Florida better by shifting its regional operations to the CCT facility. Fortune Fish and Gourmet Gulf States will operate out of the facility, which will be converted to Fortune’s inventory management, ERP, and routing software.
“We are excited to strengthen our logistics throughout all our operations and increase our frozen-storage capacity with the addition of CCT,” Fortune International President and CEO Sean O’Scannlain said. “Fortune’s domestic and imported products will be strategically stored at the CCT facility, which is well-positioned to distribute to our operating companies and customers throughout the United States."
The terms of the acquisition were not disclosed by Fortune International.
Bensenville, Illinois, U.S.A.-based Fortune has been operating under an aggressive acquisition strategy since 2012, when it acquired JDY Gourmet. With the addition of CCT, Fortune has acquired 10 companies since that time, including Coastal Seafoods, Lobster Gram, the St. Louis and Kansas City operations of Morey’s Seafood International, Jubilee Seafood, and the Kansas City, Missouri operations of Seattle Fish.
Prior to the acquisition of CCT, Fortune International also purchased Neesvig’s Inc., in the largest acquisition the company had made to date.
Fortune International itself was acquired by Bahrain-based Investcorp in February 2020, which, according O'Scannlain, “further accelerated” its acquisition strategy. Investcorp is an investment firm with a reported USD 32 billion (EUR 27 billion) in assets.
Photo courtesy of Fortune International