SAINT JOHN – Cooke Inc., the parent company of Cooke Aquaculture, completed its acquisition of Latin American shrimp company Seajoy Seafood Corporation Group, it was announced Friday.
The deal – the value of which wasn’t disclosed – is of strategic importance to Cooke.
“The acquisition of Seajoy is an important element in our focus on product diversification to meet our customers’ needs,” said Cooke CEO Glenn Cooke said in a press release.
“Seajoy is a world-leading shrimp producer utilizing the highest quality and food safety standards and newest available technology. This aligns perfectly with our existing aquaculture and wild seafood fishery divisions. We feel Seajoy’s entrepreneurial drive, industry knowledge and care for their communities has made them successful and a big reason why we feel this is an incredible cultural fit.
Seajoy is one of the largest vertically integrated, premium shrimp farms in Latin America, the release noted. Like Cooke, it’s a private family-owned company. Its shrimp farms are located in Honduras and Nicaragua. They include processing plants, hatcheries, and breeding programs.
“We founded Seajoy in Ecuador in 1979 just six years before the Cooke family started Cooke Aquaculture in New Brunswick in 1985,” said Peder Jacobson, former CEO of Seajoy, in the release. “Our families drive as pioneering entrepreneurs and our employees’ determination over the years has resulted in two successful independent seafood companies and now I am extremely pleased to have Seajoy join the Cooke family of companies.”
Seajoy focuses on producing value-added and organic Pacific white shrimp and selling them to customers in Europe, the Americas and Asia. The company, which has 1,400 employees, runs an ‘egg to plate’ operation.