Canada cannery aims to double sales with acquisition
A Nanaimo-based cannery has bought Raincoast Trading, a sustainable canned seafood company based in North Delta.
St. Jean’s Cannery and Smokehouse, which has canned Raincoast’s tuna and salmon for more than 15 years, will own the company as of 1 January.
“Raincoast Trading was one of our largest customers ... so it’s a really good fit for us,” said St. Jean’s president Gerard St. Jean. “Now that we’ve got Raincoast’s marketing arm and brand manager Kim Stockburn, it gives us distribution for our products right across Canada and the United States.”
With the deal, St. Jean’s hopes to double their sales to CAD 12 to CAD 14 million in the next two or three years, St. Jean said. He said all of the Raincoast employees will be kept on after the deal, which will mean the company has a total of 100 to 115 employees.