Florida-based Blue Harvest Fisheries has acquired the scallop business and processing facility of High Liner Foods in New Bedford, Massachusetts.
However, the financial details of the transaction were not disclosed.
Blue Harvest expects the acquisition to further strengthen its current scallop processing and distributing capabilities.
Blue Harvest CEO Jeff Davis said: “HLF’s expertise and distribution capabilities in the frozen scallop market are highly complementary to our existing capabilities in the fresh scallop market.
“Through this acquisition we will grow our customer base, increase our portfolio of quality assured products, and build increased presence in the premium seafood marketplace.”
Headquartered in Lunenberg, Nova Scotia, High Liner Foods is a seafood company serving North America.
High Liner Foods president and CEO Keith Decker says that the company is looking forward to work with Blue Harvest in providing quality, sustainable scallop products to customers.
Last month, Blue Harvest had acquired Massachusetts-based Hygrade Ocean Products to enter the scallop processing and distribution business.
Bregal Partners, which had supported Blue Harvest in the Hygrade-acquisition, played the same role in the latest transaction.
Bregal Partners managing partner and co-founder Scott Perekslis said: “We are pleased to support management’s vision and strategic direction to be a premier provider of sustainable seafood products.
“This acquisition speaks to the Company’s strategy of creating a vertically-integrated seafood brand that is anchored in trust, quality, and sustainability.”
Bregal Partners had also sponsored Blue Harvest’s acquisition of Peabody Corporation’s eight scallop vessels and related shore assets in April 2015.
Established last year, Blue Harvest Fisheries deals in sustainable harvesting, processing, and marketing of Atlantic sea scallops. It also sells and distributes other seafood products that include bluefin tina, swordfish and cod.
