Business & Finance

Published on
September 21, 2018

James Faro, the former director of sales for National Fish and Seafood and the former chief financial officer of Sea Star Seafood Corporation, was sentenced to two years in prison, followed by three years of supervised release, and was ordered to pay more than USD 1.1 million (EUR 937,000) in restitution for conspiring to commit bank fraud, according to the Worchester Business Journal.

Faro, 61, along with John Crowley, 62, who was chief

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Published on
September 18, 2018

Inland Seafood has formed a partnership with Music City Seafood, a wholesale distributor based in Nashville, Tennessee, U.S.A., the company said in a press release on Tuesday, 18 September.

Music City Seafood owner Tom Neville, who bought the company in 2017, said he is looking forward to continuing to grow with Inland.

“We believe in building relationships,” Neville said. “Working with Inland is going to help us leverage our

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By

Jason Holland

Published on
September 18, 2018
HB Grandi

Ægir Páll Friðbertsson has been appointed the new CEO of HB Grandi, the Icelandic seafood firm has announced.

Friðbertsson joins from fishing company Brim hf, where he has been CEO for the past three years. He previously worked for nine years as a loan specialist and business manager at Íslandsbanki. In total, he has almost 20 years of fisheries consultancy experience.

HB Grandi's board of directors has also approved

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By

Madelyn Kearns

Published on
September 17, 2018

Blacks Harbor, New Brunswick, Canada-based Cooke Aquaculture Inc. has appointed Claire Ryan as its new company director of public relations, the firm announced on 14 September. 

Most recently, Ryan served as the manager of public affairs for the Canadian Automobile Association – Atlantic (CAA). Before that, she held roles with a number of public-facing enterprises, including Enterprise Saint John, NATIONAL Public Relations, and

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Published on
September 13, 2018

Australis Aquaculture, a farmer and marketer of barramundi, has sold its land-based recirculating aquaculture system in Turner Falls, Massachusetts, U.S.A. to Barnstable, Massachusetts-based Great Falls Aquaculture.

Australis Aquaculture sells a line of barramundi products in North America, Australia, Asia, and Europe under the Australis and Clean Harvest brands and through private-label partnerships. The company has been ramping up its

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By

Jason Holland

Published on
September 13, 2018

Icelandic seafood company HB Grandi hf has agreed to buy the entire shareholding of fishing company Ögurvík ehf from Brim hf. 

While the current purchase price is around ISK 12.3 billion (USD 108.3 million, EUR 93.2 million), which will be funded by cash reserves and loans, a correction is expected to be applied once the results of Ögurvík’s financial performance to 31 August 2018 are available.

The purchase

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Published on
September 12, 2018

Knut Nesse, the former CEO of fish feed producer Nutreco, has been appointed managing director of the Seafood Business for Ocean Stewardship (SeaBOS).

The organization was created in 2016 with the objective of encouraging corporate leadership in ocean stewardship. Its members include Maruha Nichiro Corporation, Nippon Suisan Kaisha, Thai Union Group, Marine Harvest Group, Dongwon Industries, Cermaq (a subsidiary of Mitsubishi Corporation),

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Published on
September 6, 2018

Zhonghai Ocean Science & Technology Co. has confirmed it is one of the suitors for the Peruvian assets of Pacific Andes, the Hong Kong-based seafood giant that filed for Chapter 11 bankruptcy protection in the United States in 2016.

The Qingdao, China-based firm has a hand in many marine industries, including the production of fish oil for human consumption and aquafeed, as well as ocean shipping, equipment manufacturing, and cold

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By

Chris Loew

Published on
September 6, 2018

Maruha Nichiro's consolidated financial results for the first quarter of fiscal year 2019, released in August, showed sales up 1.1 percent, but operating income down by 31.9 percent. Ordinary income declined by 22 percent to about JPY 6.9 billion (USD 62.2 million, EUR 53.6 million), according to the company.

The company attributed its lackluster performance mainly to high material prices, which it identified as a short-term issue. The full-year

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By

Madelyn Kearns

Published on
September 4, 2018

Canadian specialty food producer Premium Brands Holdings Corporation has signed a definitive agreement to purchase Portland, Maine, U.S.A.-based lobster processor Ready Seafood Co., according to a 4 September announcement from the companies. 

A producer, marketer, and distributor of branded specialty food products in Canada, Premium Brands Holdings Corporation plans to complete its purchase of Ready Seafood in the next four weeks, depending

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