Phillips Foods Awarded Winning Bid To Acquire Assets of South Shore Seafoods Group 

GT Securities, financial advisor to Phillips Foods, confirmed on Wednesday that the Maryland-based processor and distributor has been awarded the winning bid to acquire the assets of South Shore Seafoods Group of Companies during a Companies’ Creditors Arrangement Act, or CCAA, restructuring process.

Phillips confirmed earlier this month, prior to Seafood Expo North America, that they were gearing up for expansion into north Atlantic seafood with two projects in Canada. One project involved the acquisition of the Pêcheries Bas-Caraquet Fisheries facility in Bas-Caraquet...

Silver Bay Seafoods Acquiring Trident’s Ketchikan Processing Facility; Everything You Need To Know

Silver Bay Seafoods is in the final stages of acquiring Trident Seafoods’ Ketchikan processing facility, the companies confirmed Wednesday afternoon.

Trident announced late last year that it planned on selling four shore-based processing plants in Alaska — Kodiak, Ketchikan, Petersburg, and False Pass. The seafood giant gave an update last week that it was close to finalizing sales of the plants in Petersburg, Ketchikan and False Pass. Now, the company has confirmed that the Ketchikan plant will be sold to Silver Bay Seafoods...

Phillips Foods Acquires Two Canadian Plants

After months of speculation, Phillips Foods has confirmed the purchase of two Canadian lobster and snow crab plants.

Rumors started swirling in November that Phillips, which primarily focuses on blue and red swimming crab, was looking to expand with lobster and snow crab. Sources told Undercurrent at the time that Phillips was in talks to acquire Pecheries Bas-Caraquet Fisheries, a New Brunswick-based company that was founded in 2010. Then, last month, Maryland-based Phillips formed a Canadian subsidiary as reports indicated that the company was close to purchasing South Shore Seafoods...

India’s Captain Fresh Acquires U.S. Importer CenSea; CenSea Releases Statement

This story was updated at 11:16 a.m. to include statements from CenSea and Captain Fresh.

India’s Captain Fresh has been rumored to be in negotiations with U.S. shrimp importer CenSea for months. Now, the acquisition is official.

“Captain Fresh is very excited to add CenSea and its experienced management to our team," said Utham Gowda, Founder and CEO of Captain Fresh. "Our plan is to back the current management and support them to grow CenSea into a global seafood brand. We believe in the transformative potential of combining CenSea’s experience and Captain Fresh’s...

Nova Sea to Acquire 33.4% Stake in Torghatten Aqua, Becoming the Company’s 2nd Largest Shareholder 

Norwegian farmed salmon producer Nova Sea will acquire a 33.4% stake in Torghatten Aqua. The purchase makes Nova Sea the company’s second-largest shareholder, behind Trøndelag Helgeland Invest, which owns a 39% stake. 

This new partnership means Nova Sea and Torghatten Aqua will eventually collaborate on farming operations. Nova Sea will provide investment and development company Torghatten Aqua with increased access to capital and expertise, while also contributing to sustainable growth and development in the Helgeland region of...

MSD Animal Health to Acquire Elanco Animal Health’s Aqua Business For $1.3 Billion

MSD Animal Health, a division of Merck & Co., confirmed on Monday that they have signed a definitive agreement to acquire the aqua business of Elanco Animal Health Incorporated. 

Elanco’s aqua business consists of a portfolio of medicines and vaccines, nutrition and supplements for aquatic species, as well as a research facility in Chile and two related aqua manufacturing facilities in Canada and Vietnam. MSD Animal Health says that the acquisition is expected to be completed by mid-year for $1.3 billion in cash...

Kroger, Albertsons Companies Share Update on Merger Timeline As Lawsuit Is Filed In Washington

Grocery chains Kroger and Albertsons still have not closed on their proposed merger. And now there is a lawsuit in the mix. 

Kroger and Albertsons Companies first announced that they entered into a definitive agreement to merge in October 2022. Together the two chains operate 4,996 stores, 66 distribution centers, 52 manufacturing plants, as well as 3,792 pharmacies and 2,015 fuel centers. All together they employ more than 710,000 associates across these areas. 

"We are bringing together two purpose-driven organizations to deliver superior value to...

Nissui Acquires Maxima Seafood

Nissui has acquired Netherlands-based Maxima Seafood. While Nissui has yet to mention the news on their website, Maxima Seafood revealed on their own site that “we are happy to inform you about joining the Nissui group. More information will come soon.”

Last December Nippon Suisan Kaisha, Ltd. changed its name to Nissui Corporation. The move was part of a move to “pursue possibilities in food solutions beyond the limits of fisheries.” The company has since developed Nissui Global Links, which “links marine resources and dining tables of consumers around the world.” Nissui Global Links includes...

Cooke Subsidiary Bioriginal Acquires Softgel as Part of Effort to Expand Nutritional Products

Cooke confirmed on Tuesday that their subsidiary, Bioriginal Food & Science Corp., has acquired Softgel Co. The latest acquisition is part of Bioriginal’s plans to expand their nutritional product offerings. 

Bioriginal has been in business for 30 years, and was acquired by Cooke in 2017 through the purchase of Omega Protein Corporation. Since then the nutritional solutions company has been on a journey of growth, with 2023 marking some major expansions - including a total of four acquisitions.

Softgel is a U.S. based company that includes...

Jordan Mazzetta's Eddie M's Acquires American Fish & Seafood

Eddie M’s has acquired American Fish & Seafood, a Minnetonka, Minnesota, based business that was founded in 1929. The company is expected to merge with Eddie M’s.

Eddie M’s, owned by Jordan Mazzetta, was founded in 2022 when Mazzetta purchased Morey’s seafood distribution business from Rich Products. Now the purchase of American Fish & Seafood will allow Eddie M’s to expand their reach with an additional 65,000 square foot state-of-the-art seafood processing and distribution facility.

“It was a pleasure to work with Butch Bialick to assure the continuity of American’s...

Oceano Seafood Acquires Sea Fresh USA

Peru-based Oceano Seafood has acquired Sea Fresh USA, a processor of wild-caught Loligo Squid in the U.S. Antarctica Advisors LLC, a seafood industry-focused M&A advisory firm, acted as the exclusive banking advisor to Sea Fresh USA.

Sea Fresh operates out of Rhode Island, with docking operations in Galilee, as well as a BRC-certified processing facility in North Kingstown. The company has been in business since 1981, providing fresh and frozen squid products that are distributed through both retail and foodservice. Antarctica Advisors Managing Partner Ignacio Kleiman says that...

Cooke Subsidiary Bioriginal Completes Two Acquisitions To Expand Global Footprint

Cooke confirmed on Thursday that Bioriginal Food & Science Corp, a subsidiary of the company, has completed two “significant” acquisitions that will expand their global footprint in the EU and Asia. Terms of the transactions have not been disclosed.

The first acquisition is of The Factory, a Dutch producer of fat and oil-based pet supplements and treats, including sheep fat treats and salmon oil for dogs. The company has a strong presence in the Benelux and German markets and Bioriginal is looking to rapidly expand to serve all of Europe...

SalMar Completes Sale of Frøy ASA To Goldman Sachs Asset Management

SalMar confirmed that they have completed the sale of Frøy ASA to Goldman Sachs Asset Management a little over two months after making the initial announcement. 

News that Frøy ASA, a Norway-based integrated aqua service company, was being sold, broke in early June. As reported at the time, Falcon Bidco AS, a company that is indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management, entered into an agreement with NTS AS, a wholly owned subsidiary of SalMar ASA...

BAADER Acquires Majority Stake in Food Processing Software Company

Food processing machinery giant BAADER has acquired a majority stake in EMYDEX Technology, a company involved in software solutions in the same sector.

Specifically, EMYDEX creates scalable Manufacturing Execution System (MES) software for the food processing sector.

“Combining the strengths of both companies will mean enhanced digital capabilities for BAADER and accelerated growth and market reach for EMYDEX,” BAADER said in a press release.

Petra Baader, CEO of BAADER Global SE, expressed her delight at the successful acquisition, stating, "This significant step promises to enhance our portfolio offerings...

Sysco-owned FreshPoint Acquires BIX Produce

Sysco’s specialty produce company FreshPoint has acquired fellow produce firm BIX Produce.

BIX serves as a produce specialty and fresh-cut distributor based in Minnesota. The company was founded in 1930 and boasts a broad range of restaurant and other foodservice customers in Minnesota, Wisconsin, the Dakotas, Illinois and Iowa.

FreshPoint will retain all BIX Produce colleagues and the current management team will remain in place.

Sysco noted that the acquisition provides a strategic opportunity for FreshPoint to:

- Expand its geographic footprint in an area of the country where it does not currently...

Snowfox Group Acquired by Japanese Foodservice Giant

The Snowfox Group, a Japanese company operating sushi kiosks in retailers, has been acquired by Japanese foodservice firm Zensho Holdings for $621 million.

“A combination of Zensho and Snowfox's capabilities represent a highly complementary proposition,” The Snowfox Group wrote in a press release. “Snowfox's diversified international offering will support Zensho's ambitions outside of its home market of Japan.”

Snowfox believes Zensho will be able to elevate the business through its heritage in Japan and its expertise. Snowfox’s leadership team and CEO, Richard Hodgson, will continue to run the business and work...

SENA 2024: CenSea and Captain Fresh Ready To “Create Next Global Seafood Behemoth”

Excitement was in the air Sunday night as CenSea welcomed their partners to Bistro du Midi in Boston to celebrate the acquisition by Captain Fresh.

News broke in the weeks leading up to Seafood Expo North America that India’s Captain Fresh had acquired U.S. importer CenSea. Nate Torch, co-president at CenSea, told SeafoodNews at the time that the company has “significant growth aspirations.” And that was clearly evident Sunday evening when Torch and fellow co-president Jeff Stern welcomed their guests...

CenSea’s Nate Torch on Acquisition: “We Have Significant Growth Aspirations”

Fresh off the announcement that India-based Captain Fresh has acquired U.S. shrimp importer CenSea, SeafoodNews spoke to CenSea Co-President Nate Torch about the merger and opportunities for growth. 

Torch has been with CenSea, formerly a private, family-owned business, for 44 years. During that time the company has grown organically. But now, with Captain Fresh as the new owners and partners, Torch says that it’s “refreshing” to have a large company behind them with a “common denominator of wanting to grow the business in multiple ways...

Kroger Responds After FTC Decision to Block Albertsons Merger 

On Monday news broke that the Federal trade Commission (FTC) would be challenging Kroger’s acquisition of Albertsons. The FTC said that the potential merger would “eliminate competition and raise grocery prices for millions of Americans, while harming tens of thousands of workers.” Now, Kroger has responded.

“Kroger’s business model is to take costs out of the business and invest in lowering prices for customers,” the company stated. “Kroger has reduced prices every year since 2003, resulting in $5 billion invested to lower prices and a 5% reduction in gross...

Cooke Subsidiary Bioriginal Acquires POS Biosciences

Wholly owned Cooke subsidiary Bioriginal Food & Science Corp. announced on Wednesday that they have acquired POS Biosciences Corp. from Canopy Growth Corp.

POS Biosciences Corp works with proteins, oils and starches. Formerly operating as KeyLeaf Life Sciences, the company has a state-of-the-art oil processing, concentration, and molecular distillation facility designed to create value added oils and proteins. As part of the acquisition, POS Biosciences will be able to provide additional research and development services for Bioriginal using their 11 laboratories and six pilot plant processing areas...

J.A. Kirsch Sold to Privately Held Food Importer Atalanta Corporation

J.A. Kirsch, which specializes in canned seafood and other shelf-stable products, has been sold to Atalanta Corporation, a privately held food importer. The news was announced by Brown Gibbons Lang & Company, whose investment banking team served as the financial advisor to J.A. Kirsch in the transaction.

"Dan, Stephen, and the entire BGL team did an incredible job navigating the sale process, enabling me to focus on running the business day-to-day,” said Mark Gruenbaum, CEO and Owner of J.A. Kirsch. “They helped...

Aquaculture Technology Companies Havida and GroAqua Announce Merger

Havida, an aquaculture technology company from Norway, and GroAqua, a fellow aquaculture technology company with operations in Scotland, the Faroe Islands, Denmark and Poland, announced that they are merging. The companies say that this “strategic alliance” strengthens their positions in the international market. 

Havida has been in business since 2018, but was formerly known as SBS Teknikk. The company officially changed their name to Havida in 2022. In the years since their start they have developed technology to streamline production, maintenance and operations for aquaculture technicians... 

Newport Lobster Company Acquired By Bellevue Asset Management

It was confirmed late last week that Newport Lobster Company has been acquired by Bellevue Asset Management, a diversified investment, asset management and operating platform. The acquisition was made official on November 14.

“Since we started over 20 years ago, we have focused on the needs of our customers,” said Kenny Haslam, founder of Newport Lobster Company. “We know that quick, responsive service and high-quality, fresh products are always in the best interest of our clients and their customers. Our focus on these facts has allowed us to help our....

Premium Brands Holdings Acquires Quebec-Based Food Distributor Menu-Mer

Premium Brands Holdings announced in their third quarter financial results on Tuesday that they have acquired Quebec-based food distributor Menu-Mer.

Menu-Mer specializes in the processing and distribution of fish and seafood, with their processing plant being in operation since 2009. The company states on their website that their mission is to “transform and distribute fresh and frozen marine products, coming from the cold waters of the Gulf of St. Lawrence.” George Paleologou, the President and CEO of Premium Brands Holdings, noted in the...

Sysco to Acquire Foodservice Equipment And Supply Distributor Edward Don & Company

Sysco Corporation announced Wednesday that they have agreed to acquire Chicago-based foodservice equipment, supplies and disposables distributor Edward Don & Company. The company, which was founded in 1921, is responsible for generating approximately $1.3 billion in annual revenue. 

“We’re thrilled to announce our plans to acquire Edward Don & Company, a leader in the equipment and supplies industry for over 100 years,” commented Sysco President and CEO Kevin Hourican. “This exemplary business, led by Steve Don and a strong leadership team, will drive accretive value to Sysco’s business and...

Mark Foods, Arista Seafood Combine With Expectation of Annual Revenue To Exceed $800 Million

There is a new leader in frozen seafood. Mark Foods announced on Wednesday that they have combined with Arista Industries’ Seafood Division. 

“We are pleased to welcome Arista Seafood and its team to Mark Foods’ premier seafood sourcing and distribution platform,” commented Mark Foods CEO Barry Markman. “Together, we will be a leading importer of premium seafood with more scale, a broader product offering and new expansion opportunities. I have long admired the Arista Seafood team and the business they have built...

ALDI Growing In Southeast Through Acquisition Of Winn-Dixie and Harveys Supermarket

Grocery retailer ALDI announced on Wednesday that it has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket. The planned acquisition is part of the retailer’s plans to grow in the Southeast.

ALDI first entered into the Southeast in the mid-1990s, investing $2.5 billion in the region since then. The acquisition means that the retailer will be adding approximately 400 Winn-Dixie and Harveys Supermarket locations across Alabama, Florida, Georgia, Louisiana and Mississippi to its portfolio...

Japan’s Mitsui Investing In Ecuador’s Industrial Pesquera Santa Priscila

Japan’s Mitsui & Co. Ltd. announced this week that they have decided to invest in Ecuador’s Industrial Pesquera Santa Priscila (IPSP) through a holding company owned by IPSP’s founders. Mitsui confirmed the acquisition price for the shares is USD 360 million, or approximately JPY 50 billion. 

IPSP became involved in the aquaculture industry in Ecuador in 1976 with a focus on tilapia and shrimp. Looking specifically at their shrimp, Santa Priscila focuses on growing them in a healthy and monitored environment. The fish are also fed a...

Coloplast to Acquire Fish Skin Wound Care Company Kerecis For $1.2 Billion

Coloplast announced last week that they have entered into an agreement to acquire Kerecis, an Icelandic company that is using fish skin to advance wound care. The deal is worth $1.3 USD.

Kerecis made headlines in 2018 when they won the Icelandic Innovation Award recognizing their fish-skin based products, which when grafted onto damaged human tissue “recruits the body’s own cells and ultimately is converted into living tissue.” Case studies conducted over the past couple of years found that burn wounds healed faster and...

Update On Sale Of Frøy to Goldman Sachs Asset Management 

Earlier this month it was confirmed that Frøy ASA, a Norway-based integrated aqua service company, was being sold to Goldman Sachs Asset Management for nearly $600 million. Now, NTS AS, a wholly owned subsidiary of SalMar ASA and Frøy ASA, is providing an update on regulatory approvals for the acquisition.

As previously reported, Falcon Bidco AS, a company that is indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management, will acquire 72.11% of shares in Frøy. According to the agreement, Falcon Bidco would...