Business & Finance
Medley, Florida, U.S.A.-based Bonamar Corp. has purchased International Marketing Specialists, Inc., (IMS) with the goal of expanding its product line and extending its vertical integration.
Based in Newton, Massachusetts, IMS was founded in 1991 by Morty and Marc Nussbaum as a brokerage service serving several large Thai shrimp companies. It has since moved into direct importing and private-label packing of fresh and frozen value-added seafood… Read More
The consolidation of Chile’s salmon sector continues with news that the majority shareholders of AquaChile have agreed to sell 67 percent of the company to Chilean food giant Agrosuper in a deal worth USD 850 million (EUR 736.4 million).
Agrosuper is a leading domestic supplier of chicken, beef, and pork. According to the company’s 2017 annual report, the firm had approximately USD 2.5 billion (EUR 2.14 billion) in total sales of… Read More
Chris Lischewski, the former CEO of Bumble Bee Foods, is no longer serving on the board of directors at American Seafoods, the Seattle, Washington, U.S.A.-based pollock fishing company in which he invested in 2015.
Lischewski stepped down from his leadership position at Bumble Bee in May after being indicted by the U.S. Department of Justice on charges of fixing the price of canned tuna.
Lischewski was listed along with American’s other… Read More
Poultry giant Tyson Foods’ potential purchase of Keystone Foods, which makes chicken nuggets and Filet-O-Fish for McDonald’s, faces scrutiny by the United States government.
Tyson is in exclusive talks with Marfrig Global Foods SA in Brazil, which owns Keystone, to buy the food processor, according to Bloomberg. Marfrig aims to raise more than USD 3 billion (EUR 2.6 billion) from the sale.
However, the potential acquisition could… Read More
Fortune Imports, the global procurement subsidiary of Fortune International, has hired seafood industry veteran Doug Brinsmade – formerly of The Fishin’ Company – as its new vice president of sales and procurement, the company announced on 30 July.
Fortune International President and CEO Sean J. O’Scannlain and Fortune Imports President Jeff Goldberg welcomed Brinsmade, who comes to the role with an… Read More
Two major food distribution mergers will undoubtedly change how seafood is procured and distributed in the United States.
On Monday, 30 July, Rosemont, Illinois-based US Foods said it will acquire five companies under the Services Group of America (SGA) umbrella, for USD 1.8 billion (EUR 1.5 billion) in cash. US Foods, which carries a wide range of seafood items including “Serve Good” sustainable options, is acquiring Food Services… Read More
Breakneck growth in Seattle, Washington is burying some of the city’s icons so quickly that there is an Instagram page with nearly 15,000 followers called “Vanishing Seattle.” It seems like around every corner, small businesses are being dozed under to make way for sprawling new multi-use buildings.
But Seattle’s most visible mom-and-pop seafood outlet, Pike Place Fish Market – front and center at the iconic… Read More
Golden Springs Group, the parent company of tilapia farmer Regal Springs, announced on 20 July it has sold 75 percent of animal nutrition and feed company Gold Coin Management Holdings Ltd. to Pilmico International Pte Ltd. for approximately USD 412.5 million (EUR 352.1 million).
Pilmico is a Philippines-based subsidiary of Aboitiz Equity Ventures focused on agribusiness and food. The company operates in the Philippines and Vietnam and exports… Read More
In the wake of a lengthy Associated Press report that claimed Sea to Table mislead customers as to the origins of its seafood, the company is defending its business model and reputation.
A press release issued by the founder of the company, Sean Dimin, said that the article exaggerated and made misleading claims about the company. In addition, multiple attempts to reach the AP about documentation on the DNA testing the report used to link… Read More
Whole Oceans, the Portland, Maine, U.S.A.-based company that plans to create a recirculating aquaculture system in a former paper mill in Bucksport, Maine, has hired Eric Jacobsson as their Chief Financial Officer.
Jacobsson brings 30 years of experience in finance, most recently as the senior director of finance for Pentair Water. Pentair Water, a division of Pentair, is a global leader in water solutions, particularly in the aquaculture… Read More