Seafreeze Cold Storage Acquired by Investment Firm
Bay Grove Capital has acquired Seafreeze Cold Storage, a subsidiary of Toyo Suisan Kaisha Ltd. of Japan, the San Francisco investment firm announced today. Terms of the deal were not disclosed.
Founded in 1978, Seafreeze, Seattle’s largest public refrigerated warehouse company at 7 million cubic feet, leases processing space to several seafood companies. The company’s management team will remain in place.
“This change ends 17 terrific years of ownership by Toyo Suisan and begins a new era for our company,” says Bill Bowman, general manager of Seafreeze. “We are excited to work with Bay Grove and look forward to making big and small changes to take Seafreeze to the next level.”
“Seafreeze has a great reputation and long track record of success,” adds Kevin Marchetti, a managing director of Bay Grove. “We are looking forward to continuing to build a company focused on delivering customers with the highest level of service while providing employees with the most rewarding and safest work environment.”