Saving Seafood

New Brunswick’s first land-based Atlantic salmon post-smolt aquaculture facility achieves environmental approval

April 3, 2023 — The following was released by Cooke Aquaculture Inc:

Kelly Cove Salmon Ltd. (KCS), of the Cooke family of companies, has received a Certification of Determination to Proceed from the New Brunswick Department of Environment and Local Government for the construction of its proposed $72 million land-based Atlantic salmon post-smolt aquaculture facility in Bayside, N.B. This approval is an important step achieved upon successful completion of an Environmental Impact Assessment (EIA).

Located in the Champlain Industrial Park alongside the Passamaquoddy Bay, the new facility will be a world-class recirculating aquaculture system (RAS). KCS began planning the high-tech project in 2017 and received EIA approval earlier this year for ground source wells to supply the facility with water. Associated with this facility are two water pipeline corridors and a marine loading facility.

Cooke acquires Slade Gorton, expanding its position in US seafood importing, distribution sector

March 15, 2023 — Cooke Inc. has acquired Slade Gorton, one of the largest distributors, importers, and manufacturers of fresh and frozen seafood in the United States.

The binding purchase agreement was announced on the sidelines of the 2023 Seafood Expo North America on Tuesday, 14 March, 2023 in Boston, Massachusetts, U.S.A., near Slade Gorton’s headquarters in Waltham, Massachusetts. Terms of the deal were not disclosed, but Cooke said it is expected to close within weeks.

Read the full article at SeafoodSource

Cooke Agrees to Acquire Slade Gorton, America’s Original Seafood Family

March 14, 2023 — The following was released by Cooke Aquaculture Inc:

Saint John, NB and Waltham, MA – Cooke Inc. has entered into a binding purchase agreement to acquire Slade Gorton, one of the United States largest distributors, importers, and manufacturers of fresh and frozen seafood.

Headquartered in Waltham, MA, Slade Gorton maintains a storied legacy and a heritage spanning over 95 years in the seafood industry. It is known for its deep industry expertise, unmatched customer service and its mission to bring safe and sustainable seafood from around the world to America’s table. Thomas Slade Gorton, Jr. began as a fisherman’s apprentice aboard schooners fishing on the Grand Banks off Newfoundland, Canada and founded the Company in 1928. His son, Michael Gorton, Sr., who led the company for over 50 years, has embodied Slade Gorton’s core values of passion, respect, humility, and grace.

Slade Gorton will continue to be led by fifth generation family members Kim Gorton, CEO and her brother Mike Gorton Jr., EVP, Business Development, who will both remain in their roles and continue to be invested in the ongoing growth and success of the business.

“Over nearly a century, Slade Gorton has built a robust and resilient world class supply chain in support of our family’s passion for making sustainable seafood accessible to everyone. As the world has evolved over the past several years, it became clear that to accelerate our mission and impact, it made sense to join forces with a diverse, vertically integrated company run by people who share our family values and vision for reshaping the consumer’s experience with seafood. There could be no better fit than Glenn Cooke and the incredible global company his team is building. We are excited to join forces with the Cooke family of companies to take the Gorton family’s legacy forward,” says Kim Gorton, CEO, Slade Gorton.

Slade Gorton currently offers more than 800 premium seafood products and maintains long-standing partnerships with hundreds of leading North American foodservice and retail customers.

“Cooke and Slade Gorton share a passion for ensuring that everyone has an opportunity to enjoy delicious, nutritious and sustainable seafood whether dining at home or in a restaurant,” says Glenn Cooke, CEO of Cooke Inc. “We will build on the expertise, innovation, and deep commitment to its customers’ success that Slade Gorton is so well-respected for. Working together with the True North Seafood sales team and leveraging Cooke’s global infrastructure and reach, we will help support our customers in increasing consumption of seafood in North America.”

With 4,000 employees and distribution locations coast to coast across the USA, Cooke offers a fully vertically integrated seafood harvesting, processing, sales, and distribution network to provide wholesale and retail customers with premium fresh and frozen seafood in every state.

Closing of the transaction is expected to occur in the coming weeks and the terms have not been disclosed as both companies are private, family-owned businesses.

Cooke Inc. acquires Tassal Group Limited

November 21, 2022 — The following was released by Cooke Inc:
Cooke Inc. (“Cooke”), parent company of Cooke Aquaculture Inc. of New Brunswick, Canada, today announced the completion of its acquisition of Tassal Group Limited (ASX: TGR) (“Tassal”) of Australia, under which Cooke (via a wholly-owned Australian subsidiary) has acquired all outstanding shares of Tassal for AUD $5.23 per share in cash by way of a scheme of arrangement (“Scheme”) or a total enterprise value of approximately AUD $1.7B (CAD $1.5B). This follows a Tassal shareholder vote held on November 3, 2022, with voting majorities that overwhelmingly approved the Scheme. Final approval of the Scheme was ordered by the Supreme Court of New South Wales on November 8, 2022.
 
With over 36 years’ experience, Tassal is Australia’s largest vertically integrated seafood producer and Blue AgTech business. Its footprint spans from Southern Tasmania to the North of Queensland. Tassal annually harvests 40,000 tonnes of Atlantic salmon in five marine farming zones supported by four land based freshwater hatcheries and four processing facilities. The company also farms 5,500 tonnes of Australian Black Tiger Prawns from two hatcheries, three pond farms and processing facilities. 
 
The company domestically and internationally distributes and processes salmon, prawns and other seafood in fresh, smoked, and frozen categories. Tassal is recognised by Australians as a leading household seafood brand and also distributes products under the company’s brands include Tropic Co – The Aussie Prawn, De Costi Seafood, Superior Gold, and Tasmanian Smokehouse.
The Tassal purchase is Cooke’s first investment in Australia and the largest-ever for the family-owned seafood and nutritional products company since it first began in 1985 in New Brunswick.
 
“We are thrilled to be joining the Tasmanian aquaculture industry and look forward to welcoming Tassal’s 1,700 employees to the Cooke family of companies,” says Glenn Cooke, CEO of Cooke Inc. “Over the last few months, myself and members of our global management team have had the opportunity to visit Tassal’s operations and have been so impressed by the team’s dedication to what they do and their communities. We’re looking forward to working with Tassal’s employees and customers to ensure that we continue to produce high quality, sustainable seafood for the Australian market and beyond.”
 
Like New Brunswick, Tasmania’s isolated coastline, natural environment and cool climate make it the primary location for Australian aquaculture of cooler water species.  Species farmed by Tasmanian producers include Atlantic salmon, oysters, mussels, abalone, seahorses and seaweeds. Marine farming is now one of the State’s major employers with thousands of Tasmanians working in the industry. Australia’s aquaculture industry is actively supported by government and industry partnerships. The National Aquaculture Strategy, in collaboration with state and territory governments, aims to double aquaculture production in Australian waters to an annual value of $2 billion by 2027.
 
“Producing healthy and nutritious seafood comes with great responsibility. Whether we are farming prawns on land or salmon in the sea, our commitment is to be a responsible business respecting our people, the environment and communities we operate within as we deliver our vision of sustainably feeding tomorrow which aligns perfectly with Cooke’s core purpose,” says Mark Ryan, CEO of Tassal. “We’re looking forward to becoming part of the Cooke family of companies and sharing the best of what our industry has to offer.”
 
Cooke’s core purpose is to ‘cultivate the ocean with care, nourish the world, provide for our families, and build stronger communities. Cooke believes Tassal will be a major contributor in furthering its commitment to the continuous improvement of animal husbandry, biosecurity, environmental management, and sustainable farming practices.
 
In order to achieve Sustainable Development Goals, The Food and Agriculture Organization of the United Nations says aquatic foods offer highly accessible and affordable sources of animal proteins and micronutrients, playing a vital role in the food and nutrition security of many people across the world, particularly vulnerable coastal populations.
 
Aquaculture farming is one of the healthiest and most efficient ways to feed the global population with a minimal environmental impact and the lowest carbon footprint of any animal protein. The aquaculture industry works closely with world-renowned scientists from academia, government and the private sector to develop rigorous standards and implement best practices for fish health and environmental protection.
 
Cooke is grateful to The Australian Trade and Investment Commission and The High Commission of Canada to Australia for their ongoing support facilitating trade and investment between our Commonwealth realm countries. Australian investment bank Kidder Williams acted as buy-side financial adviser for Cooke. Australian law firm Allens acted as legal counsel for Cooke.

Cooke quietly launches premium Cutler Cove Salmon brand

October 14, 2022 — Cooke Aquaculture’s True North Seafood has quietly launched a premium salmon brand that leans heavily on its origins in the U.S. state of Maine.

Described in a promotional video as “one of the best ocean-raised Atlantic salmon in America, straight from the heart of Maine,” and “exceptional in every way,” Cutler Cove Salmon is now available on a limited basis in fillets and portions through Baldor Specialty Food in New York City; Harbor Fish in Portland, Maine; and Taylor Lobster in Kittery, Maine, according to True North Vice President of Marketing Jill Cronk.

Read the full article at SeafoodSource

GANONG TEAMS UP WITH COOKE TO TAKE CANDY COMPANY GLOBAL

October 13, 2022 — The following was released by Cooke Aquaculture Inc:

Two well-known entrepreneurial New Brunswick families have teamed up to strengthen and grow Canada’s oldest candy and chocolate company. Glenn Cooke, CEO of Cooke Inc. has made a major partnership investment into Ganong Bros., Limited.

This investment will be directed into new equipment and leveraging Cooke’s global retail grocery presence to grow the iconic company. Ganong will continue to be led by its current management team including fifth generation President & CEO Bryana Ganong and her brother Nick Ganong, COO.

“This partnership, and the strategic investment from the Cooke family, is designed to ensure that Ganong remains competitive in an ever-changing global confectionary market,” says Bryana Ganong, President & CEO, Ganong Bros., Limited. “We were committed to find an investor that understood the history of our company and our commitment to our employees and New Brunswick. We are pleased to partner with the Cooke family because they understand what it takes to run a globally competitive business from a base in New Brunswick.”

“From the invention of Chicken Bones to their hand-dipped chocolates, the Ganong family has poured their hearts into producing the finest candy for customers while building a strong, vibrant community in St. Stephen,” said Glenn Cooke, CEO of Cooke Inc. “We are happy to make this positive investment to support Charlotte County and celebrate Ganong’s growth as we move into the 150th year of business together.”

Established in 1873, Ganong has the distinction of being Canada’s original and longest standing family-owned and operated chocolate company, proudly manufacturing all its products in St. Stephen, New Brunswick. Ganong has 300 dedicated employees who manufacture a variety of premium chocolates and confectionery treats. The company manufactures their own brands as well as co-manufacturing production for Canada and the US.

“For generations our family and our employees have been helping Canadians celebrate their sweetest moments and we’re thrilled to be partnering with the Cooke family who have built a global food processing company with roots in Charlotte County,” said Bryana Ganong. “This exciting investment by Cooke will enhance the company’s capacity to serve customers, provide more opportunities for our incredible employees, and help us continue to enhance our community.”

The terms of the investment transaction have not been disclosed as both parties are private, family-owned businesses.

Read the full release here

 

Cooke Commits to Employee Wellness With New Engagement Platform

May 8, 2019 — Employees at Cooke Aquaculture Inc. have a unique opportunity to take a major step toward improved all-around wellness with the launch of an innovative digital platform that will connect the company’s diverse teams and facilitate individual and workplace wellbeing.

“Our people are our most important asset,” said Cooke CEO Glenn Cooke. “This investment is part of our ongoing commitment to creating a culture that empowers our people to grow, connect, and thrive.”

Cooke Aquaculture has partnered with Sprout to implement a digital platform that connects the company’s employees, promotes a shared culture across locations, helps facilitate corporate-led wellness challenges and empowers employee health and wellness with easy-to-use and rewarding programming.

Read the full story from Canada NewsWire at Morningstar.com