Chesapeake Bay Packing, L.L.C. announced that it entered into a scallop sourcing agreement with Oceans Fleet Fisheries that will increase Chesapeake's production of U.S. sea scallops. As part of the mutual agreement, Chesapeake sold 7 full time scallop vessels to Fleet. Chesapeake will retain access to production from the 7 vessels and will gain substantial additional access to the production from Fleet's existing scallop vessels.
"Chesapeake and Fleet have a successful history of working closely together within the scallop fishery," stated Lars Vinjerud, CEO of Oceans Fleet Fisheries. "This vessel purchase and sourcing agreement builds upon a successful, longstanding relationship, and capitalizes on the complementary nature of Fleet's fresh scallop business and Chesapeake's position and product requirements in the frozen scallop industry.”
“This agreement significantly improves our access to sea scallops to support our continued growth in domestic and international sales of scallops,” stated Terry Molloy, Chesapeake’s General Manager. “Chesapeake and Fleet are an excellent fit in terms of respective market strengths, vessel operations, geographic locations, and product requirements. We believe this agreement leverages the core strengths of both companies and will further strengthen our position as a growing processor in the sea scallop industry, which enjoys a bright future.”
The vessel purchase will make Lars Vinjerud one of the largest privately held fishing fleet owners on the eastern seaboard and will give customers of Oceans Fleet Fisheries unparalleled access to the finest seafood harvest in the world. Quality through vertical integration, combined with environmentally sustainable fishing and traceability, are tenets that will establish Ocean Fleet Fisheries as a world leader in quality fresh scallops and seafood. Chesapeake Bay Packing operates a state-of-the-art seafood processing facility in Newport News, Virginia and maintains one of the largest privately held waterfront docks on the east coast. The additional supplies of sea scallops will advance Chesapeake’s position as an industry leader in the international market for premium frozen sea scallops.
Republished with permission from SeafoodNews.com