Cooke Continues Shopping Spree With Acquisition of Nicaraguan Shrimp Producer
SAINT JOHN – Cooke Inc. has acquired another Central American shrimp producer, this time it’s Farallon Aquaculture de Nicaragua S.A.
“Farallon Nicaragua is a company guided by the highest international standards in environment, health, security, and quality – all attributes shared with our existing aquaculture and wild seafood fishery divisions,” said Cooke CEO Glenn Cooke in a release. “With their long-term expertise in the shrimp market and emphasis on continuous innovation, Farallon is well positioned to support our expansion in the shrimp market to supply high quality, sustainable seafood.”
Farallon is a vertically-integrated producer of farmed shrimp and a supplier fresh-frozen shrimp to major markets in Asia, Europe and the U.S.
Headquartered in Leon, it employs 384 people. The company runs a hatchery, three farms and an onsite processing plant from four locations.
Cooke just completed its purchase of Seajoy Seafood in February, folding in the vertically-integrated, Pacific white shrimp producer in Honduras and Nicaragua into its business. At the time, Cooke said the purchase is a key element in the company’s focus for product diversification.
“Farallon Nicaragua also produces Pacific white shrimp and offers Post-larvae (PL) for commercial sale,” said Cooke. “We will integrate the company into our Seajoy operations, which allows for us to achieve Seajoy’s certifications for producing environmentally and socially responsible seafood from groups such as the GAA (Global Aquaculture Alliance), 4-star BAP (Best Aquaculture Practices), and ASC (Aquaculture Stewardship Council).
“Over the last two decades, we have built a recognized and respected brand and look forward to continued success as part of the Cooke family of companies,” said Jose B. Martinez, founder and owner of Farallon Nicaragua, in the release. “We believe this ownership transition will allow Farallon to realize its full potential.”
Terms of the deal weren’t disclosed.
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