Business & Finance

Published on
March 21, 2019

Canned seafood firm Larsen Danish Seafood has been sold to Riga, Latvia-based Karavela, one of the largest fish processing firms in the Baltics.

The deal closed on 14 March, 2019, and terms of the deal were not disclosed. Larsen was sold by Christian i Grotinum, a family-ownedseafood company based in the Faroe Islands, which purchased Larsen in 2015.

“We are excited about this opportunity and our plan is to expand sales to the

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By

Madelyn Kearns

Published on
March 20, 2019

California-based seafood distributor All Seas Wholesale, Inc., has been acquired by Cooke Inc., the parent company of Cooke Aquaculture. The transaction was completed in mid-February of this year, according to a recent press release announcing the purchase. 

All Seas Wholesale has been distributing up to forty species of fresh seafood, live shellfish, and frozen seafood products to the San Francisco Bay area’s hotels, country clubs,

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By

Chris Chase

Published on
March 20, 2019

Seafood Expo North America 2019’s keynote speaker, Lindsey Piegza – chief economist for Stifel Fixed Income – warned that current data on consumer spending and the marketplace point to a greater than 50 percent chance that a recession sets in by 2020. 

Piegza’s review of the U.S. and global economy dove into economic trends of the past few years, and how the U.S. Federal Reserve is likely to react to trends in the

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By

Madelyn Kearns

Published on
March 15, 2019

Former Bonamar Corporation executive Alex Cook has joined Coral Springs, Florida-based seafood supplier Sea Delight Group as its new sales management executive, the company announced on 11 March. 

A seafood industry veteran of more than 17 years, Cook most recently served as the senior vice president and chief marketing officer for Miami, Florida-based Bonamar. In his new role with Sea Delight, Cook will work to build out the

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By

Christine Blank

Published on
March 15, 2019

As Ocean Beauty Seafoods grows its own brands, as well as distributes Findus’s products in the United States, the supplier is adding to its sales team.

The Seattle, Washington-based company recently hired Nathan Rice as its East Coast sales manager and Sean Taylor as its Midwest sales manager.

“We are excited to grow our sales teams with two professionals who have undeniable passion for the seafood industry and its growth

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By

Mark Godfrey

Published on
March 13, 2019

The developer of a giant seafood logistics hub in central China has opened its first store as it seeks to take a bigger share of the margins from sales of imported product.

The Nian Nian You Yu Group opened a 1,400 square-meter, multi-level store in the prosperous east coast city of Hangzhou. The company – which plans to open 39 stores in provincial capitals as well as a further 60 in second tier cities – is a subsidiary of the deep

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By

Jason Holland

Published on
March 11, 2019

The Denmark-headquartered BioMar Group achieved a “solid increase” in revenue and volumes last year, but – as was expected – its earnings failed to match the growth in volumes due to a fiercely competitive Norwegian market. 

However, other markets were able to offset this challenging situation, the company said.

With earnings before interest, tax, depreciation and amortization (EBITDA) of DKK 713 million (USD 107.5

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Published on
March 7, 2019

Platinum Equity has purchased a majority stake in Vigo, Spain-based frozen seafood producer Iberconsa for an undisclosed sum. 

Iberconsa, or Grupo Ibérica de Congelados, S.A., is a vertically integrated producer of hake, Argentine red shrimp, and squid, operating 45 vessels, five processing plants and four cold storage distribution facilities. The company’s fleet operates primarily in Argentina, Namibia and South Africa, and

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By

Chris Chase

Published on
March 6, 2019

Edmonds, Washington, U.S.A.-based Keyport LLC announced on 6 March that it has appointed Joanne Kennedy as director of marketing and Audrey Ryan as director of sales as the company begins to expand beyond its core offerings. 

The company plans to expand into new frozen seafood meals, including Wild King Crab Macaroni & Cheese and Wild King Crab Ravioli. 

The new hires are intended to help drive those initiatives. Kennedy previously

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By

Jason Holland

Published on
March 4, 2019

New Zealand King Salmon Investments Ltd. (NZKS) posted a net profit of NZD 15.1 million (USD 10.3 million, EUR 9 million) for the first half of the 2019 financial year, ending 31 December, 2018, a decrease of NZD 600,000 (USD 408,201, EUR 358,668) year-on-year. This led to a pro forma operating EBITDA of NZD 17.3 million (USD 11.8 million, EUR 10.3 million), down from NZD 19.5 million (USD 13.3 million, EUR 11.7 million) in H1 2018.

For the

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