Cooke Aquaculture of Canada will purchase Icicle Seafoods
Cooke Aquaculture, a Canadian fisheries firm based in New Brunswick, said May 9 that the company has signed a definitive agreement to purchase Icicle Seafoods. The transaction is anticipated to close in less than 30 days once all regulatory and legal matters have been completed, the company said. Financial terms of the agreement were not disclosed. Icicle, which began as Petersburg Fisheries Inc. in Southeast Alaska in 1965, is currently owned by the private equity firm Paine & Partners, with headquarters in Foster City, CA. With the acquisition, the Cooke group of companies will produce over 275,000 metric tons of seafood annually and generate $1.8 billion in annual sales, Cooke said. Glenn Cooke, president of Cooke Seafood, described the deal as “an exciting venture for us as it will add a well-respected fishery to our family businesses. Read the rest here 12:15
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