Business & Finance
With around EUR 600 million (USD 655 million) at its disposal, European enterprise Nomad Foods – the parent company of Birds Eye, Iglo and Fundus – is situated to make more acquisitions, the company’s CEO Stefan Descheemaeker revealed to Reuters.
The company is considering mid-sized acquisitions, Descheemaeker said, because as of now “For the categories we're in, that's fine. We don't need more than that," he told… Read More
BioMar Group delivered strong first quarter results for 2017, with steady operational performance across divisions boosting volumes and profits, the company announced.
The company has kicked off 2017 with improved sales and a stronger EBIT compared to the same quarter in 2016, with BioMar’s Salmon Division sales volumes climbing almost 30 percent higher than Q1 last year. Furthermore, all country units within the Salmon Division… Read More
While Lunenburg, Nova Scotia, Canada-based High Liner Foods acquired frozen shrimp importer and distributor Rubicon Resources this week, its earnings news was not as favorable.
The acquisition of Culver City, California-based Rubico, a privately-held importer and distributor of sustainably sourced frozen shrimp products in the private-label U.S. retail market, allows High Liner to expand into a new market. Rubico had sales of around USD 234… Read More
Norwegian fish farming and fishing company Leroy Seafood Group (LSG) has reported operating profit before fair value adjustments of almost NOK 1.3 billion (USD 151.3 million, EUR 139.1 million) for the first-quarter of this year, up from NOK 584 million (USD 68 million, EUR 62.5 million) in the same period of 2016.
LSG’s revenue for the last quarter increased to NOK 5.5 billion (USD 640 million, EUR 588.6 million), compared with NOK… Read More
Peter Redmond, who was responsible for implementing Walmart’s sustainability commitment, will lead commercial outreach for the Aquaculture Stewardship Council (ASC) in the United States and Canada.
ASC appointed Redmond, who worked at Walmart for 17 years, as vice president of market development for its North America operations. Redmond will start on 22 May.
“I am thrilled to be working back in the seafood sector with ASC,”… Read More
North American value-added frozen seafood supplier High Liner Foods signed a definitive agreement on 10 May to acquire Rubicon Resources, LLC, a shrimp importer based out of the United States.
With expertise in importing and distributing sustainably-sourced frozen shrimp products to the private-label U.S. retail market, Rubicon can help grow and strengthen High Liner’s position in the shrimp category, explained the company.
"I… Read More
Driven by all-time high salmon prices, Marine Harvest achieved record first-quarter operational earnings before interest and taxes (EBIT) of EUR 220 million (USD 239.1 million) in the opening three months of this year, almost doubling the EUR 112 million (USD 121.7 million) posted in the corresponding period of 2016.
“There have been strong prices in Europe, strong prices in the Americas and this is backed with good demand in most markets.… Read More
Thanks to its Red Lobster acquisition – as well as favorable foreign exchange rates – Thai Union Group’s net profits soared 19.3 percent to THB 1,469 million (USD 42.4 million, EUR 38.8 million) in the first quarter.
However, gross profits dropped 13.3 percent to THB 4,330 million (USD 125 million, EUR 114 milion), and gross profit margin fell from 16 percent in the first quarter of 2016 to 13.8 percent in the first quarter of… Read More
Ocean Choice International (OCI), a seafood harvester and processor in St. John’s, Newfoundland, Canada, bought out its minority partner, Landvis Canada Inc.
Two of the founders of OCI, Martin Sullivan (CEO) and Blaine Sullivan (COO), are now the sole owners, making the company 100 percent locally owned and operated.
“This transaction is another important positive milestone for the future of OCI as a leading global seafood supplier,… Read More
The parent company of China’s leading producer of dry seafood snacks is seeking a stock market listing to expand its distribution.
Sheng Hai Foodstuffs is applying for a listing on the Hong Kong Stock Exchange, according to Dongxing Securities, a leading Chinese stockbroking firm. The company owns Wo Feng Hai Xian, which produces the well-known ‘Wo Feng’ brand of dried seafood snacks.
The company, which claims to be… Read More