Network Commodities bought by H&N Group
Vernon, California, U.S.A.-based seafood importer, processor, wholesaler, and distributor H&N Group has announced its acquisition of the assets of Network Commodities, a New Jersey-based seafood wholesale distributor.
Financial terms of the acquisition are not disclosed. H&N Group Executive Vice President Christine Ngo said the acquisition will expand her company’s geographic footprint and product range.
“H&N continues to build upon its strategic growth plans and momentum,” Ngo said in a press release. “This acquisition of the assets and infrastructure of Network Commodities reinforces our position as a leading supplier of quality seafood to the U.S. domestic and international markets, as well as strengthens our existing product portfolio, overall operations, and salesforce.”
H&N, which had USD 340 million (EUR 275 million) in sales in 2016, is an independent, family-owned importer and wholesale distributor of seafood products with offices in Los Angeles, San Francisco, and the New York metropolitan area.
Network Commodities imports frozen seafood from a number of international destinations, including India, Vietnam, Indonesia, Thailand, Malaysia, Oman, and China. It sells lobster tails under its Network American Chef brand, octopus under its El Ray Brand, and frozen shrimp through its Network American Chef and Rose Brand labels.
“H&N and Network Commodities adhere to similar core values and the strong commitment and focus on providing the best products available on the market," Ngo said. "Superior customer service is very much a core value of both companies. This acquisition furthers H&N’s footprint, both domestically and internationally, enabling us to continue to build upon the solid foundation we established nearly four decades ago. It also allows us to provide existing customers with new products, while increasing awareness of our brands to potential customersand leverage operational efficiencies and further set ourselves as the industry leader."