Tag Archives: Multinational aquisition

Wanchese’s Daniels family in agreement on sale to Canadian Cooke Aquaculture – What about the US Quota?

Canada WancheseSources have questioned how Cooke, also family-owned and based in Blacks Harbor, New Brunswick, is going to structure buying some or all of Wanchese, seeing as non-Americans can only own 25% of US fishing quotas. The company owns 11 fishing vessels in the US, catching scallops, fish, and shrimp up and down the East Coast, as well as two operating for sea scallops in Argentina. One source said maybe Glenn Cooke, co-founder and CEO of Cooke, means to keep some of the Daniels family on to be the face of the US entity used to acquire other US quota assets. “Interesting and very tricky,” he said of this. Read the rest here 14:01