Sea Delight has purchased the intellectual property of the former Bonamar Corporation, which fell into financial trouble and was liquidated earlier this year.
Included in the transaction are Bonamar’s brands and trademarks, including the Sebastian brand of crab meat, according to a statement from Sea Delight Sales Management Executive Alex Cook, who joined Sea Delight in March after working as a senior vice president and chief marketing officer at Bonamar.
“In February 2019, Bonamar Corporation was placed in an assignment for the benefit of creditors. Although the Sebastian brand had great brand recognition and success, the parent company, Bonamar Corporation, was liquidated as a result of defaulting on their credit line. This created an uncertain future for its premium brands supply chain and staff,” Cook said. “This was the perfect complement to the Sea Delight line of high-quality innovative products.”
Sea Delight, founded in 2006 by Eugenio and Margarita Sanchez, the owners of ADS Seafood, LLC, is a provider of frozen and fresh seafood based in Coral Springs, Florida, U.S.A. Sea Delight Senior Vice President Cesar Bencosme said the acquisition of Bonamar’s brands and trademarks “will further the company’s growth and market presence to add profitable, high-quality lines of product that exceed the expectations of consumers worldwide all the while inspiring global conservation and sustainability efforts.”
“The goal of this intellectual property acquisition is to make Sea Delight a major player in the crab category as it will now offer one of the most diverse offerings of crab globally under one of the most recognizable seafood brands in the industry,” he said.
For Cook, the transaction was personal.
“Our goal was to reconstruct the teams that made these brands, like Sebastian, so successful. We’ve put in the work to rebuild the supply chain in order to protect the quality and integrity of each acquired brand; from sourcing, production and fishing to marketing, sales, customer service and quality assurance,” he said. "Acquiring these brands and trademarks is transformational for Sea Delight as we step firmly into the crab category and further diversify our portfolio. From the start of our involvement, we’ve been traveling to meet with team members, both global and domestic, to give new life to these brands and programs. The brands are more than just labels on cans and boxes; for us, it’s about the people, and maintaining a high-quality product.”
