Ignacio Kleiman warned that Latin America’s seafood industry is facing “unprecedented uncertainty” because political upheaval in Argentina, Chile, Peru and Ecuador has spurred companies with strong finances to look overseas, meaning domestic investment will slow and only sporadic strategic deals are likely
Ignacio Kleiman told Undercurrent that a “perfect storm” of inflation‑driven cost increases, higher interest rates and reduced consumption will force seafood companies to recapitalize and merge, predicting more consolidation across upstream and downstream sectors as firms struggle to protect margins
September 26, 2023 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Sea Fresh USA (“Sea Fresh”), one of the largest processors of fresh, premium-quality, wild-caught Loligo Squid in the U.S., in its sale to Oceano Seafood (“Oceano”), an international fishing and processing conglomerate from […]
Peru’s Oceano Corp. purchased Rhode Island‑based squid processor Sea Fresh USA, adding an MSC‑certified squid operation and lifting Oceano’s turnover to about US$425 million, though U.S. rules mean the buyer can own only 25 % of the vessels
June 13, 2023 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Boston Sword & Tuna, Inc. (“Boston Sword”), one of the largest distributors of fresh, premium-quality, wild-caught and farm raised seafood in North America, in its sale to Fortune International, LLC (“Fortune”), one of […]
At the 2023 Seafood Expo North America, Undercurrent reported a “tidal wave” of M&A announcements, with six major deals—including Fortune International’s purchase of Boston Sword & Tuna adding almost US$300 million in sales—reflecting pent‑up activity after 2022 and showing that cheap capital and succession planning are fueling consolidation
The U.S. Federal Reserve raising interest rates has caused banks to pull back on financing, and that means merger and acquisition activity will slow in the coming quarters, according to a panel of financial experts, speaking during Seafood Expo North America. The panel, on 14 March at SENA in Boston, Massachusetts, agreed higher interest rates […]
Ignacio Kleiman said Cooke’s sale of Icicle Seafoods’ whitefish assets—including nine vessels and about 4 % of the Bering Sea pollock quota—to a partnership of Maruha Nichiro and two Community Development Quota groups will allow Cooke to focus on higher‑value species while giving the buyers greater volume despite foreign‑ownership restrictions
Maruha Nichiro and Alaska Community Development Quota groups confirmed they acquired Icicle Seafoods’ whitefish assets—including the Northern Victor processing plant, nine vessels and roughly 4 % of the Bering Sea pollock quota—for an estimated US$180–200 million in a structure designed to meet U.S. ownership rules
M&A activity in the sector went on a tear in 2021, and is already off with a bang this year. Despite another year of the COVID-19 pandemic, investor interest in the seafood sector was still strong in 2021. A tally of IntraFish coverage shows at least 65 notable mergers, acquisitions or significant investments occurred last […]
Transaction SummaryAntarctica Advisors, the leading Seafood Industry-focused investment banking firm, acted as the exclusive financial advisor to Clear Springs Foods, Inc. in its 100% sale to Riverence Holding LLC. The combined group is the largest producer of trout in the U.S., becoming one of the largest aquaculture companies in the country.
Antarctica’s specialized Seafood Team worked with the Board and Management in finding the best strategy for the Company, advised in the Company’s refinancing prior to the sale, and led a closed competitive sales process geared towards maximizing value for the Company’s employee-owners.