Cooke Inc. is continuing its series of acquisitions. This month, the New Brunswick company has announced it has bought Farallon Aquaculture de Nicaragua S.A, a vertically integrated producer of farmed shrimp and key supplier of branded fresh-frozen shrimp to markets in Asia, Europe and US.
Farallon Nicaragua is based in Leon, Nicaragua and has 384 employees. The firm operates a state-of-the-art hatchery, three farms and an onsite processing plant.
“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 division. 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,” said Glenn Cooke, CEO of Cooke Inc.
Last month, Cooke Inc. announced the acquisition of Seajoy Seafood Corporation group, one of the largest vertically integrated, premium shrimp farmers in Latin America.
“We will integrate the company (Farallon Nicaragua) in our Seajoy operations, which allows for us to achieve Seajoy’s certifications for producing environmentally and socially responsible seafood from groups such as GAA (Global Aquaculture Alliance), 4-star BAP (Best Aquaculture Practices) and ASC (Aquaculture Stewardship Council),” Cooke further explained.
The terms of the current transaction have not been disclosed, as both companies are private family-owned business.