9. Speaking of Chinese interest in Canadian lobster, Zhangzidao Group Corp., one of the larger seafood companies in China, announced in October that it was buying out Capital Seafood International, a lobster processor based in Nova Scotia.
At first glance, this may seem like merely a convenience move. If Zhangzidao wants to replicate Alibaba’s success, it might make sense to own every step in the supply chain, but the company said it plans more acquisitions, “most likely in Nova Scotia,” suggesting this first purchase is only a foothold, part of a larger plan. The company also changed its name to Zoneco Group, which might be easier for westerners to pronounce and spell. It’s a good bet that the industry in North America hasn’t heard the last from Zhangzidao.
