Philippines’ Alliance acquires U.S. salmon smoker
Philippines-based tuna canner Alliance Select Foods International on Tuesday announced that it has agreed to acquire U.S.-based salmon smoker Spence & Co. for USD 8.5 million.
According to multiple news outlets and a disclosure to the Philippine Stock Exchange, the acquisition is being carried out by Alliance subsidiary ASFI Choice Foods to help the company strengthen its presence in the U.S. market.
Founded in Brockton, Mass., in 1989, Spence & Co. produces smoked salmon and other smoked seafood items, including trout and mackerel, in the Scottish tradition of founder Alan Spence. The company sells to the U.S. and European markets.
Alliance is involved primarily in processing, canning and exporting tuna, with facilities in General Santos City, Philippines, and Bitung, North Sulawesi, Indonesia. The company sells its products to 56 countries in Europe, North America, Asia, Africa and South America. It also hold a majority interest in Prime Foods New Zealand Ltd., New Zealand’s second-largest salmon processor.