Premium Brands Holdings Corp. has agreed to acquire Ready Seafood Co., a U.S. processor, distributor, and marketer of lobsters. Through this acquisition, Premium Brands will expand its seafood group into the U.S. The transaction is expected to close within the next four weeks and is subject to customary closing conditions, including regulatory approvals.
Ready Seafood has three production facilities in Maine and annual sales of more than $100 million. The company was founded in 2004 by brothers John and Brendan Ready, who will become partners in Vancouver-based Premium Brands' Seafood Group. Premium Brands created the Seafood Group platform in 2008 with the acquisition of Vancouver Island-based B&C Food Distributors. With the acquisition of Ready Seafood, the group's operations will expand across Canada to the U.S. East Coast.
Related: Poke Businesses on the Rise in US; Greenpeace Reports on Retailers Seafood Progress.
from Industry Operations https://ift.tt/2Cj1SQQ
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