Saving Seafood

Lobster Bait Fish Coming to Maine From Uruguay Amid Shortage

July 11, 2019 — Maine’s lobster fishermen will be able to use a new species of bait fish to try to get through a shortage of herring that has troubled the industry in recent years.

Lobstermen typically bait traps with Atlantic herring, but federal fishery regulators have enacted dramatic cutbacks to the catch quotas for that fish. The Maine Department of Marine Resources said Thursday it has approved the blackbelly rosefish as a new species that can be sold and used as lobster bait in the state.

The blackbelly rosefish is an abundant species that ranges from Canada to South America. Cooke Aquaculture, a New Brunswick, Canada-based company, requested Maine’s approval to sell rosefish as bait, and the company announced plans to harvest the fish off Uruguay.

“We believe this is a solution to address concerns from the lobster fishery on the challenges they are currently facing on account of bait shortages,” said Glenn Cooke, chief executive officer of Cooke Inc., which includes Cooke Aquaculture.

Most of the U.S. lobster catch comes to the shore in Maine, where lobstermen landed nearly 120 million pounds (54 million kilograms) of the valuable seafood last year. Fishermen rely heavily on herring as a bait source, though they also use other species, such as menhaden.

Read the full story from the Associated Press at U.S. News

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

Cooke Inc. Acquires All Seas Wholesale, Inc.

March 19, 2019 — The following was released by Cooke Inc:

Cooke Inc. (“Cooke”), a New Brunswick company and parent of Cooke Aquaculture Inc., has acquired All Seas Wholesale, Inc. of California, a distributor of up to forty species of fresh seafood, live shellfish, and frozen seafood products. The transaction was completed in mid-February of this year.

For 33 years, All Seas Wholesale, Inc. has been proudly servicing the San Francisco Bay area’s hotels, country clubs, airline & event caterers, upscale retail markets, and restaurants as a same day purveyor of the finest quality seafoods.

“Purchasing All Seas allows us to continue to strengthen our vertical integration and distribute our True North Seafood products to additional markets,” said Glenn Cooke, CEO of Cooke Inc. “All Seas prides itself on being able to receive an order early in the morning and have it delivered fresh to the customer to serve on their lunch menu that same day, and that fits very well with our drive for high standards in both top quality products and customer satisfaction.”

“We are thrilled to have joined the Cooke family of companies,” said Peggy Howse, General Manager, All Seas Wholesale. “Cooke is respected globally for delivering delicious, sustainable seafood products and now All Seas Wholesale will be taken to the next level serving customers.”

“95% of All Seas Wholesale employees have been with the company for over 10 years,” added Howse. “Our devoted professionals have united with the top seafood team dedicated to offering freshest seafood imaginable.”

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

Cooke Inc. is showcasing it’s fresh, sustainable True North Seafood Company branded products this week in Boston, MA, at Seafood Expo North America, in booths 1133 & 1233.

Read the full release here

Cooke Aquaculture One of Canada’s Best Managed Companies

March 8, 2019 — SEAFOOD NEWS — Cooke Aquaculture has reason to celebrate. For the 14th year in a row the family-owned and operated company has been named one of Canada’s Best Managed Companies.

“Serving our customers while focusing on environmental stewardship remains at the forefront of our sustainable growth strategy,” said Glenn Cooke, CEO of Cooke Aquaculture Inc. “Regardless of what country we operate in or sell to, we understand that our relationship with the environment is vital to our business and to producing top quality seafood. We view this as a significant component of our corporate social responsibility. There is always room for improvement – and we continue to try new techniques, implement new practices and test new equipment. We know the company depends on a healthy marine environment for growing and harvesting seafood.”

Applicants are evaluated by an independent judging panel that consists of representatives from program sponsors, as well as special guest judges. Winners of the Best Managed program award are “amongst the best-in-class of Canadian owned and managed companies with revenues over $15 million demonstrating strategy, capability and commitment to achieve sustainable growth.”

“Best Managed companies are elevating Canada’s place on the world-stage,” said Lorrie King, Partner, Deloitte Private and Co-Leader, Canada’s Best Managed Companies program. “By broadening their network, and thinking globally, the Best Managed program is honoring these winners for their achievements in Canadian business, and growing influence worldwide.”

This story was originally published on SeafoodNews.com, a subscription site. It is reprinted with permission.

Cooke Inc. branches into shrimp production with Seajoy acquisition

February 4, 2019 — Cooke Inc. announced on 1 February it has finalized its acquisition of Seajoy Seafood Corporation, one of Latin America’s largest producers of farmed shrimp, with operations in Honduras and Nicaragua.

SeafoodSource previously reported on the acquisition, which was completed in November 2018, but the formal announcement came after the companies finalized the details of the transaction.

“The acquisition of Seajoy is an important element in our focus on product diversification to meet our customers’ needs,” Cooke CEO Glenn Cooke said in a press release. “Seajoy is a world-leading shrimp producer utilizing the highest quality and food safety standards and newest available technology. This aligns perfectly with our existing aquaculture and wild seafood fishery divisions. We feel Seajoy’s entrepreneurial drive, industry knowledge and care for their communities has made them successful and a big reason why we feel this is an incredible cultural fit.”

The purchase gives Cooke Inc., the parent company of Black Harbour, New Brunswick, Canada-based Cooke Aquaculture, an avenue to expand its product repertoire to include shrimp. Seajoy is one of the largest vertically integrated, premium shrimp farms in Latin America, with a focus on producing value-added and organic Pacific white shrimp (Litopenaeus vannamei) and selling to customers in Europe, the Americas, and Asia.

Read the full story at Seafood Source

Cooke confirms deal for shrimp farmer Seajoy is close to completion

December 3, 2018 — Glenn Cooke confirmed the Canada-based, global seafood group that carries his family name is close to a deal for a shrimp farmer in Latin America, which Undercurrent News has previously reported is Honduras’ Seajoy Group.

Speaking at a roundtable in Saint Andrews, New Brunswick, he said Cooke is in the final stages of acquiring “one of the largest” Latin American shrimp farming companies, the Telegraph-Journal reported.

“We are in the process of getting everything approved, but we have basically bought one of the world’s largest shrimp operations,” he said at the event, which was attended by the heads of other divisions from around the world and Karen Ludwig, a member of the Canadian Parliament representing the New Brunswick Southwest district.

Read the full story at Undercurrent News

Cooke closes Omega Protein deal

December 21, 2017 — Omega Protein’s stockholders have voted to go ahead with a deal which sees the parent company of Cooke Aquaculture acquire all outstanding shares for nearly $500 million.

The deal was first announced in October. The transaction price represents a premium of 32.5% to Omega Protein’s closing share price on Oct. 5, 2017, which was $16.60, giving a market capitalization of $372.90m. The agreement has been unanimously approved by the board of directors of each of Omega Protein and Cooke, according to a statement.

The transaction was subject to the approval of Omega Protein stockholders, certain regulatory approvals and other customary closing conditions. BMO Capital Markets is providing committed financing for the transaction.

Omega Protein operates seven manufacturing facilities located in the US, Canada and Europe. The company also operates more than 30 vessels to harvest menhaden, a fish abundantly found in the Atlantic Ocean and Gulf of Mexico.

Read the full story at Undercurrent News

 

Cooke Inc. Agrees to Acquire Omega Protein Corporation for $22.00 Per Share

Omega Protein’s Stockholders to Receive $22.00 Per Share in Cash

Transaction Valued at Approximately $500 Million

Transaction Represents Key Strategic Addition for the Global Seafood Company

October 6, 2017 — SAINT JOHN, New Brunswick and HOUSTON — The following was released by Cooke Inc. and Omega Protein:

Cooke Inc. (“Cooke”), a New Brunswick company and parent of Cooke Aquaculture Inc., and Omega Protein Corporation (“Omega Protein” or the “Company”), a nutritional product company and a leading integrated provider of specialty oils and specialty protein products, today announced that they have entered into a definitive agreement (the “Merger Agreement”) under which Cooke will acquire all outstanding shares of Omega Protein for $22.00 per share in cash. The transaction price represents a premium of 32.5% to Omega Protein’s closing share price on October 5, 2017. The Merger Agreement has been unanimously approved by the Board of Directors of each of Omega Protein and Cooke.

“We are very pleased to sign this agreement with Omega Protein,” said Glenn Cooke, CEO of Cooke Inc. “Omega Protein will provide us with another platform in Cooke’s growth strategy through further diversification in the supply side of the business. We believe this will be a very good fit between our two cultures. Omega Protein has a 100-year history with an experienced and dedicated workforce, which we value, and a tradition of operating in small, coastal towns and communities that we share. Their focus on sustainable aquaculture and agriculture and the production of healthy food is also a great fit with our experience and culture.”

Cooke carries on the business of finfish aquaculture globally through its wholly-owned subsidiary Cooke Aquaculture Inc. The New Brunswick, Canada based Cooke family also has significant investments in wild fisheries globally through their ownership of Cooke Seafood USA, Inc. and Icicle Seafoods, Inc. Cooke Aquaculture Inc. is an aquaculture corporation founded in Blacks Harbour, New Brunswick, Canada with salmon farming operations in Atlantic Canada (operated by its affiliate, Kelly Cove Salmon Ltd.), the United States (Maine and Washington), Chile and Scotland, as well as seabass and seabream farming operations in Spain. In 2015, Cooke Seafood USA, Inc. was created, and grew rapidly through the acquisitions of Wanchese Fish Company, Inc. in the USA and the assets of Fripur S.A., the largest fishing company in Uruguay. The Cooke family also acquired Icicle Seafoods, Inc. in 2016. The addition of Omega Protein serves as a perfect strategic piece for the Cooke family of companies.

“We are excited about the agreement, which we believe recognizes the value of Omega Protein’s successful, 100-year-old fishing business and also provides stockholders with an immediate premium,” said Bret Scholtes, President and CEO of Omega Protein. “Cooke is a family owned company and in many ways, reminds us a lot of ourselves and this agreement is the perfect fit for the two companies. Cooke is a highly-regarded and responsible leader in the global fishing and seafood industry.”

Read the full release at PR Newswire