Gloucester, Mass.-based value-added frozen seafood processor Good Harbor Fillet LLC has been acquired from private equity firm Creo Capital Partners LLC by American Seafoods Group. Terms of the deal were not disclosed.
The acquisition bolsters American Seafoods’ processing presence on the U.S. East Coast. The Seattle-based seafood supplier also owns American Pride Seafoods, which is based in New Bedford, Mass. Good Harbor will be integrated into American Pride.
American Seafoods reported 2010 sales of USD 421 million and ranked 10th in Seafood Business magazine’s annual list of the top 20 North American seafood suppliers.
“In this era of continuing industry consolidation, the acquisition of Good Harbor is a natural fit for integration into our land-based company, American Pride Seafoods,” said Bernt Bodal, chairman and CEO of American Seafoods, in a statement.
“We welcome Good Harbor into American Pride. They have a strong history of customer focus and innovation with product lines such as the exclusive, all natural NutraPure® fat blocker technology. This business consolidation strengthens the value we deliver to our customer partners,” said John Cummings, president of American Pride Seafoods.
Added Bill Stride, president of Good Harbor, “I foresee exciting opportunities for Good Harbor from the tremendous expansion of supply resources and access to broader market channels that this deal provides.”
American Seafoods was advised by Glacier Securities, a New York-based subsidiary of Iceland’s Islandsbanki.
