Business & Finance
High Liner Foods has announced Robert Pace will replace Henry Demone as chairman of the company’s board, with Demone planning to retire after the company’s annual general meeting on 14 May, 2019.
Demone twice served as High Liner’s CEO – from 1992 to 2015 and again from 2017 until April 2018, when Rod Hepponstall was named president and CEO of the Lunenburg, Nova Scotia, Canada-based value-added frozen seafood… Read More
Seafood seems to be way down the list of sectors attracting investors in China, as agriculture and fisheries investments accounted for just 1 percent of the USD 377 billion (EUR 335.5 billion) invested in 1,866 deals monitored by leading international mergers and acquisitions watchers Mergermarket and Merrill DatasiteOne.
Industries and chemicals accounted for 19 percent of deals in value and 24 percent in volume, topping the list of categories… Read More
Midwestern U.S. supplier Fortune International will officially purchase the St. Louis and Kansas City operations of Morey's Seafood International – a Golden Valley, Minnesota-based branded seafood products provider and distributor – on 1 April, the Bensenville, Illinois-based company announced on 28 March.
The acquisition will serve to expand Fortune International’s Fortune Fish & Gourmet brand with additional processing… Read More
Halifax, Nova Scotia, Canada-based Clearwater Seafoods announced 27 March that the company’s vice president of finance and chief financial officer, Teresa Fortney, plans to leave the company.
According to the company, Fortney plans to stay on in the position until a replacement has been found, in order to “ensure a smooth transition.”
"On behalf of the board of directors and Clearwater’s executive team, I want to… Read More
Edward Stavis, long-time president of Stavis Seafoods Inc., died on 20 March at the age of 89.
Edward was president of Stavis Seafoods for over 50 years, and together with his brother Frederick Stavis they managed the business and shifted it from a small company to a international importer and distributor. After graduating from Brandeis University in 1952 as a member of the school's inaugural class, and then completing further graduate… Read More
Ocean’s Balance, an edible seaweed company based out of Biddeford, Maine, recently received a USD 100,000 (EUR 88,500) prize for its edible seaweed products.
The award comes from “Greenlight Maine,” a television show airing in the state that promotes small businesses and startups in the region. Ocean’s Balance won the grand prize for the fourth season of the show, beating out fellow finalists Flowfold, an outdoor… Read More
China’s stock markets are going through a bull run, but seafood firms haven’t been invited to the party.
Revenues at tilapia farming firm Baiyang Industrial Investment Group rose by 32.3 percent in 2018 to CNY 3.16 billion (USD 470.4 million, EUR 416.2 million) in 2018, while its profits slipped 59.5 percent. Profits attributable to shareholders fell by 72.7 percent. That’s resulted in investors shunning the… Read More
Palladium Equity Partners’ acquisition of Coral Gables’, Florida, U.S.A.-based Quirch Foods in December 2018 has enabled the company to take a major step forward in its growth plan, an executive with Quirch’s seafood brand, Panamei, told SeafoodSource at the 2019 Seafood Expo North America.
Jorge Roza, Panamei Seafood’s marketing director, said Quirch, which had recorded USD 1 billion (EUR 880 million) in revenue in… Read More
Broadline foodservice distributors US Foods and Sysco and retailer Target have resolved litigation with Thai Union and its subsidiary Chicken of the Sea over allegations of fixing the price of canned tuna.
In separate motions filed on 21 March in the U.S. District Court for the Southern District of California, US Foods, Sysco, and Target each said they had reached out-of-court settlements with Chicken of the Sea and asked that their lawsuits be… Read More
Massachusetts-based seafood supplier and distributor Stavis Seafoods is celebrating 90 years in the seafood industry throughout 2019, the company announced during Seafood Expo North America in Boston this week.
Founded in 1929 under its original moniker, Stavis Ipswich Clam Company, Stavis Seafoods has become an internationally-known, vertically-integrated company and prominent operator on Boston’s waterfront. The business has… Read More