Business & Finance
A recurring theme at the 2019 Global Seafood Market Conference, taking place from 15 to 17 January in Coronado, California, U.S.A., has been China’s dominance in the skilled processing sector, and whether rising labor costs would push that processing elsewhere.
A burgeoning middle class in China has steadily driven up the labor costs for skilled processing, particularly in the large groundfish processing sector. The trade for… Read More
East Coast Seafood announced on 14 January that it plans to close the Garbo Lobster facility in Groton, Connecticut, U.S.A., effective Thursday, 17 January.
The lobster packing facility was used as a base of operations for shipping live lobsters and billed itself as the largest wholesale distributor of live lobsters in the world. According to a release from East Coast, the company plans to absorb those operations into its other facilities… Read More
Faroese salmon producer Bakkafrost is looking for a new CFO following Gunnar Nielsen’s decision to resign from the position. Nielsen has been with the company since 2014.
In a statement, Bakkafrost said that it had “with regret accepted Nielsen's decision and will promptly start the process of recruiting his replacement.”
Bakkafrost has agreed with Nielsen that he will stay with the company and provide assistance until a… Read More
Vietnam’s largest shrimp producer, Minh Phu Seafood Corp., ended 2018 with both export volumes and export value increasing substantially compared with 2017, Le Van Quang, chairman and CEO of Minh Phu, told SeafoodSource on 8 January.
The company exported nearly 67,500 metric tons (MT) of shrimp last year, jumping 19.6 percent year-on-year. The export value in 2018 was USD 751 million (EUR 656.2 million), up 7.7 percent from 2017.
In… Read More
A private equity firm has acquired Lipari Foods, a Midwest United States-based manufacturer and distributor of food, including seafood for retail.
An affiliate of San Francisco, California-based H.I.G. Capital acquired the Warren, Michigan-based Lipari Foods Operating Company from Sterling Investment Partners and Lipari. The terms of the transaction were not disclosed.
With approximately USD 1 billion (EUR 866 million) in net sales annually,… Read More
Chicken of the Sea International, a division of Thai Union, on Wednesday, 9 January announced it had settled civil complaints by 29 U.S. retailers in relation to antitrust claims made as part of a larger price-fixing scandal in the canned tuna sector.
The settlement follows upon an earlier agreement the company reached in April 2018 with Walmart, one of the largest retailers of canned tuna in the United States. Both rounds of settlements… Read More
Peter Zuellig, the founder of Golden Springs Group and a trustee of Regal Springs, has died.
Zuellig founded the Golden Springs Group, an Asian holding company that purchased a minority stake in Regal Springs Tilapia in 2015, and later took 100 percent control of the company in 2016. Earlier this year, Zuellig sold 75 percent of Golden Spring’s stake in Gold Coin Management Holdings Ltd. – a manufacturer of animal feed within… Read More
Salmon processor Silver Bay Seafoods announced that it has named Cora Campbell, its chief external affairs officer, as its new president and CEO.
Campbell’s appointment to the position replaces CEO Richard Riggs and company co-founder and president Troy Denkinger. Prior to her appointment Campbell served as president and CEO of Siu Alaska Corporation, and previously she served as the commissioner of the Alaska Department of Fish and… Read More
Former Marel executive Alan Cook has joined New Zealand King Salmon Investments as its new chief operating officer.
Cook, who most recently served as vice president for Marel’s fish division, has 20 years of senior management experience in the aquaculture industry. His career has seen him working in salmon farming on both coasts of Canada, Chile, and in the U.S. state of Washington.
Through his work with Marel, Cook helped to develop… Read More
Private investment firm Palladium Equity Partners has invested a “significant” sum into Miami, Florida, U.S.A.-based Quirch Foods.
New York, U.S.A.-based Palladium, which manages USD 3 billion (EUR 2.6 billion) in assets, did not provide a total amount for its investment, but said in a 20 December press release it was made by one of its affiliated private equity funds.
Quirch distributes and exports seafood as well as beef, pork,… Read More