Struggling American seafood company American Seafoods has announced it has closed a deal to recapitalize and refinance its debt, which includes investment from a number of big names in the U.S. seafood industry.
Frank Dulcich, CEO of Pacific Seafood Group, Chris Lischewski, CEO of Bumble Bee Foods and Amy Humphreys, former CEO of Icicle Seafoods, have all invested in the company and now serve on its board.
“Investing in American Seafoods makes sense for Pacific,” Dulcich said. “I look forward to working closely with the team at American Seafoods to help it develop and execute its business initiatives.”
Private investment firm Bregal Partners sponsored the transaction, and Scott Perekslis, co-founder and managing partner at Bregal, is also on American Seafoods’ board. Other terms of the deal were not disclosed.
“American Seafoods participates in the Pacific whiting and Bering Sea Alaska pollock fisheries, both held as the gold standard for sustainable fishery management, with one of the lowest environmental footprints of any protein,” Perekslis said. “The company’s exemplary track record gives us confidence that it will continue to lead the industry with its focus on sustainable stewardship.”
