Business & Finance
AS PRFoods (PRF) has completed the acquisition of majority shareholdings in John Ross Jr. (Aberdeen) Ltd. (JRJ) and Coln Valley Smokery Limited (CVS), both located in the United Kingdom.
The total purchase price paid by the Estonian-based seafood production company was in excess of GBP 13.1 million (USD 17.1 million, EUR 14.6 million).
JRJ and CVS are related companies through their shareholders. The former is a leading Scottish… Read More
A former Pacific Seafood Group executive was sentenced to prison after embezzling more than USD 350,000 (EUR 300,571) from the Oregon-based processor over several years.
On 24 July, U.S. District Court Judge Anna J. Brown sentenced Andrew Henry Jacobs, 50, to two years in federal prison for wire fraud in an embezzlement scheme. Jacobs also received another 15 months in prison for filing false tax returns.
"Mr. Jacobs stole from his… Read More
The U.S. Department of Justice agreed to lower the fine levied against Bumble Bee Foods for its role in a price-fixing scandal in part because a larger fine could lead to the company’s insolvency, according to court documents filed last week.
In May, Bumble Bee pleaded guilty to fixing the price of canned tuna between 2011 and 2013. In exchange for cooperating in the Department of Justice’s investigation, the company received a… Read More
Massachusetts, U.S.A.-based importer Stavis Seafoods is entering into a primary distribution partnership with redistributor R.W. Zant Company, the company announced on 24 July.
Effective starting on 1 August, the two companies will store and deliver each other's products. The California-based, family-owned redistribution company, which is one of the largest within the country, specializes in protein and dairy wholesale distribution to… Read More
An Atlanta, Georgia, U.S.A.-based seafood company has big plans in store as it plans to invest USD 4 million (EUR 3.4 million) to relocate some operations and develop new projects and products at its facility in Birmingham, Alabama.
Inland Seafood announced it will renovate an existing storage and distribution center and transform it into a state-of-the-art production plant, where it will make its value-added seafood and meat products. The… Read More
Founder and majority owner of Trident Seafoods Chuck Bundrant has achieved billionaire status, according to the Bloomberg Billionaires Index – a far cry from when, as a college freshman in 1961, Bundrant drove to Seattle, Washington U.S.A. with just USD 80 (EUR 68) in his pocket and fishing on his mind.
Nowadays, Bundrant is worth at least USD 1.1 billion (EUR 945 million), Bloomberg reckons, with Trident Seafoods valued at USD 2.1… Read More
Malmö, Sweden-based OctoFrost Group, a manufacturer of individual quick freezing (IQF) freezer tunnels, has purchased Innotec Systems BV, a maker of customized industrial food processing machinery.
The acquisition is intended to make OctoFrost is a key player in supplying complete IQF processing lines, the company in its press release announcing the deal. Terms of the deal were not announced, but OctoFrost said in its announcement that it… Read More
Nueva Pescanova has been in the news often in the past few years, but Ignacio Gonzalez, the CEO of the Spanish seafood giant, is much happier with the headlines his company is making since he took over as its leader in February 2016.
After a messy bankruptcy procedure, allegations of financial mismanagement, the firing of the former CEO and board of directors, and a drawn-out fight with the major shareholders of its previous corporate entity… Read More
Santa Monica Seafood has appointed James Nissenberg as its new senior director of logistics, the California-based company's president and CEO Roger O’Brien announced on 17 July.
Nissenberg will oversee Santa Monica Seafood’s logistics department, including freight activity across all of the company’s locations; its fleet program, which involves approximately 75 trucks and 95 drivers; and all other transportation support… Read More
China’s leading shrimp exporter, Guolian Aquatic, is reporting a rise in net profits of between 695.8 and 729.9 percent for the first half of the year.
The firm attributes the dramatic rise down to an increase in domestic distribution channels and a “consolidation” of export dominance. It also credits the monetization of several project developed in its research and development programs.
Guolian’s results come… Read More