Seafood leaders on the move – Vol. 6

Deals, Mergers, Partnership and Profits

Pacific Andes International is nearing bankruptcy, according to a report from Forbes. The Hong-Kong-based enterprise controlled by the Ng family was almost liquidated in November 2015 after its subsidiary failed to pay a USD 31 million (EUR 27.7 million) installment on a USD 650 million (EUR 581 million) loan. Read more about the state of the company here: http://www.seafoodsource.com/news/supply-trade/pacific-andes-in-trouble-forbes-reports

Great Pacific Seafood, based out of Seattle, Washington, has declared bankruptcy, shuttering three seafood processing plants in Kenai, Whittier and Anchorage used to process salmon. The company already closed down its Arctic chum operations, based in Kotzebue, Alaska, on year ago. More information about the filing can be found here: http://www.seafoodsource.com/news/supply-trade/great-pacific-seafoods-enters-bankruptcy-ceases-operations

Ocean Premier Seafood has acquired Toppits Foods, an importer and supplier of fresh and frozen fish and seafood based in Ontario, Canada. Said Toppits Foods President and CEO John Mauro of the purchase: “We are very excited with this vertical integration. It is a strategic move for us. We can leverage the strengths of Ocean Premier’s buying direct at source, farming and processing capabilities in its own plants. This combined with the strength of the Toppits sales and marketing team, will allow us to continue to build on the legacy of the family owned business.” http://www.seafoodsource.com/news/supply-trade/ocean-premier-buys-canadian-frozen-seafood-specialist-toppits-foods

Westmorland Fisheries has committed to using a CAD 4.7 million (USD 3.6 million, EUR 3.2 million) from the Canadian government to help update its lobster processing operations and introduce new product offerings to the market. Primarily a producer for the frozen food segment with its Rock Point brand, the New Brunswick, Canada-based company will be fixing up its Cap-Pelé processing facility in particular. Read more about Westmorland’s aspirations here: http://www.seafoodsource.com/news/supply-trade/westmorland-fisheries-to-upgrade-lobster-operations-introduce-new-products

The National Fisheries Institute has launched a new website meant for housing information about the organization as well as its opinions on key industry issues. The site, www.AboutSeafood.com, accommodates for advances in the technological space made over the years, and is thus, user-friendly. Among its features will be updates in seafood science and enhancements or rebuttals to public and journalistic reports, said NFI. Find out more about the website here: http://www.seafoodsource.com/news/supply-trade/national-fisheries-institute-launches-advocacy-and-information-website

Check back next month for another round of Sea Change. Email your listings and promotional news to [email protected].

Don't forget to check out last month's listings: http://www.seafoodsource.com/news/supply-trade/seafood-leaders-on-the-move-vol-v