Fisher King, Nichirei Fresh partner

Fisher King Seafoods announced on Thursday that it has formed a partnership with Nichirei Fresh that will allow it to expand its distribution reach globally.

Based in Halifax, Nova Scotia, Fisher King is one of Canada’s fastest-growing seafood companies, while Nichirei Fresh is a subsidiary of Nichirei Corp., one of Japan’s largest food distributors and cold-storage providers, with annual seafood sales of JPY 76 billion (USD 845.7 million, EUR 589.2 million).

While providing Fisher King with greater access to the global seafood market, the partnership will also allow Nichirei to expand its presence in the North American market.

Tor Conklin, who founded Fisher King along with Grant Stonehouse in 1996 and now serves as its president, called the alliance a “natural fit.”

“Fisher King was built on integrity, quality and exceptional service, and Nichirei shares these values,” said Conklin. “Nichirei produces a superior line of sustainably harvested seafood items, and our North American customers have a rapidly growing demand for sustainable products. In addition, our Canadian and U.S. supply partners will have unprecedented access to the growing customer base of Nichirei.”

Fisher King has annual sales of more than CAD 60 million (USD 56.1 million, EUR 39.1 million); its seafood products include crab, scallops, sole, shrimp, turbot, ocean perch, haddock, cod, lobster and flounder.

“The two companies believe that by combining access to marine resources, as well as by utilizing each other’s global sales network, each will be in a better position to take advantage of and expand their global seafood supply chain,” said Stonehouse, chairman of Fisher King. “We welcome them as shareholders and directors in our corporate structure.”

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