U.S.-based Chicken of the Sea Frozen Foods announced on Wednesday that it reached an agreement to buy out lobster and shellfish producer Orion Seafood International of Portsmouth, N.H.
Chicken of the Sea, a division of Thai Union Frozen Products Group (TUF), will acquire the assets “in the coming days,” for an unspecified amount of money.
Orion is known as a supplier of lobster, king crab and snow crab. In a statement, Chicken of the Sea President and CEO Bryan Rosenberg said the acquisition will allow the company to expand its lobster offerings.
“Our plan is to aggressively grow this segment by leveraging existing expertise and business relationships,” Rosenberg said.
“Integration into the Chicken of the Sea Frozen Foods organization will expand distribution opportunities for Orion branded products, develop more business to Orion’s supplier network, and provide a more diverse product offering to Orion’s historical customers,” said Charles Anastasia, founder and CEO of Orion.
The announcement offered no word on what staffing changes would take place at Orion or Chicken of the Sea as a result of the acquisition, but Rosenberg said “we are committed to making the integration as seamless as possible.”
