California, U.S.A.-based Tsar Nicoulai Caviar has purchased beleaguered caviar producer and sturgeon farmer Sterling Caviar, creating the largest caviar-producing company in the U.S.
Sterling Caviar entered receivership in April 2024, with creditors claiming the company owed them more than USD 23 million (EUR 22.2 million). The company was originally founded by Stolt-Nielsen in 1988 to raise white sturgeon at a farm in Elverta, California, before the company was purchased in 2020 by Eugene Fernandez for USD 6.2 million (EUR 5.9 million). Prior to Fernandez’s purchase, Stolt-Nielsen reported in its financial update ending 31 August 2020 that the caviar company lost USD 8.7 million (EUR 8.3 million).
Now, Tsar Nicoulai Caviar and its current owners – the Bolourchi family – report they have purchased the company and aim to leverage their expertise to revitalize its operations.
"This strategic acquisition of Sterling will not only allow us to compete on a scale with the larger caviar producers in Asia and Europe but also gives us the opportunity to showcase our unwavering commitment to sustainability and innovation on a global scale," Tsar Nicoulai Caviar President Ali Bolourchi said in a release.
Tsar Nicoulai Caviar was founded in 1984 by Mats and Daphne Engstrom, with the Bolourchi family taking over stewardship of the business in 2014. Since taking over, the new owners said they have installed a new oxygen system for the tanks the company raises sturgeon in, installed solar panels at its facility, and began using aquaponics to grow organic butter lettuce and other produce from waste produced by the sturgeon.
The company recently celebrated its 40th anniversary – which included announcing an expansion to its farm by introducing 54 new recirculating aquaculture system (RAS) tanks for farming sturgeon.
“Designed with sustainability at the forefront, the tanks incorporate state-of-the-art systems for water filtration, waste reduction, and energy efficiency,” the company said. “The addition of these new tanks will enable Tsar Nicoulai to move to almost 100 percent water efficiency and will be the first outdoor RAS for sturgeon in the world, much like the original 30 tank pond system (which is still in use) was the first aquaponics system powered by sturgeon in the world.”
Tsar Nicoulai Caviar said it plans to apply ...
