Business & Finance
North American seafood company High Liner Foods has concluded a USD 70 million (EUR 62.1 million) addition to its senior secured term loan, increasing the principal amount outstanding on the facility to USD 338 million (EUR 300 million).
The terms of the add-on are consistent with the existing loan, including a maturity date of April 2021.
On 30 May, High Liner completed the acquisition of Rubicon Resources LLC for USD 107 million (EUR 95… Read More
Portland, Oregon, U.S.A.-based Fishpeople Seafood announced Tuesday, 6 June that it had secured USD 12 million (EUR 10.7 million) in financing from the Advantage Capital Agribusiness Partners (ACAP) and other investors.
Fishpeople Seafood, a maker of sustainable seafood kits, already has products available in more than 5,000 retail stores in the U.S., including Safeway/Albertsons and Whole Foods.
While ACAP was the major investor in… Read More
A contract has been signed between Icelandic seafood company HB Grandi and the Astilleros Armon yard in Gijon, Spain, for a new EUR 44.3 million (USD 49.7 million) factory freezer trawler.
The new vessel is scheduled to be delivered in mid-2019, and at 81.3 meters in length and with a 17-meter beam, it is expected to be among the largest and most sophisticated filleting factory trawlers operating in the North Atlantic.
HB Grandi CEO… Read More
China’s leading tilapia exporter continues its diversification strategy with the announcement this week that it’s completed the CNY 560 million (USD 82.4 million, EUR 73.2 million) purchase of digital education group Huo Xing Shi Dai.
With the deal, Baiyang Investment Group, which changed its name from Baiyang Aquatic two years ago as part of a diversification strategy, is moving further away from its one-time core aquaculture… Read More
CNFC Overseas Fishery Co Ltd. – the listed arm of China’s longest-established state-owned fishery company – has informed investors that it’s being investigated by the China securities watchdog and faces the risk of being delisted from the Shenzhen Stock Exchange.
The note to investors sent over the weekend stated that the company is being investigated by the China Securities Regulatory Commission, which oversees the… Read More
Grieg Seafood ASA, a Norwegian salmon farming company, has teamed up with two other suppliers on a new NOK 300 million (USD 35.6 million, EUR 32 million) smolt production facility in Rogaland, Norway.
Grieg, Bremnes Seashore AS, and Vest Havbruk AS each acquired a one-third ownership in Tytlandsvik Aqua AS, and said they would start construction on a smolt production capacity that will start with an annual capacity of 3,000… Read More
One of China’s leading stock brokers is singling out aquafeed producers as his top stock pick, citing higher seafood prices as the major reason for his bullishness.
Cheng Xiao Deng, an analyst at Tai Ping Yang Securities in Shanghai, singled out Guangdong Haid Group Co and Fujian Tianma Science & Technology Group as top “buy” stocks in a report on the sector.
Deng lists price-jumps in key species during the first five… Read More
BioMar Group is looking to make a bold entrance into the shrimp feed sector with a 70 percent acquisition of Ecuadorian shrimp feed producer Alimentsa for USD 119 million (EUR 105 million), the company announced on 2 June.
As a means to establish itself among the leading shrimp feed producers in Latin America, BioMar hopes this latest acquisition of Alimentsa will also create synergies toward existing business, it said in a press release.… Read More
Lunenberg, Nova Scotia, Canada-based High Liner Foods has completed its previously announced purchase of Rubicon Resources, a shrimp importer and distributor located in Culver City, California, U.S.A.
The acquisition, first announced on 10 May, was closed for USD 107 million (EUR 98 million), with 70 of that amount paid in cash and 30 percent in common shares of High Liner stock – approximately 2.43 million common shares, the company said… Read More
Auckland, New Zealand-based seafood company Sanford Ltd., a large producer of farmed salmon, mussels and oysters, posted a 25 percent increase in net profit after tax following a renewed push to focus on value-added products, branding and domestic sales.
In its recently announced financial results for the six months ending 31 March, 2017, Sanford’s net profit increased to NZD 19 million (USD 13.5 million, EUR 12 million), compared to the… Read More