Saving Seafood

Cooke Enters Into Agreement for the Acquisition of Copeinca

November 7, 2024 — The following was released by Cooke Inc.:

Cooke Inc. (“Cooke”) and PF Cayman New Holdco Limited have executed a binding share purchase agreement under which a wholly-owned subsidiary of Cooke will indirectly acquire all the outstanding shares of Corporación Pesquera Inca S.A.C. (“Copeinca”) of Peru — one of the world’s largest fishmeal and fish oil producers and exporters.

Copeinca was established in 1994 and has grown to become Peru’s largest fishing company with 2,770 employees, 45 vessels and 8 processing plants that span the north and center coastline of Peru. Copeinca holds the largest anchoveta (Enaraulis ringens) quota in Peru at 15.9% and processes approximately 21% of the country’s total catch for annual production of approximately 200,000 MT of fishmeal and 23,000 MT of fish oil.

Upon completion of the acquisition, Cooke will strengthen its growing marine ingredients business and diversify its geographic and species portfolio.

“There is tremendous compatibility between Cooke and Copeinca, and we’re excited to welcome Copeinca’s dedicated employees to the Cooke family of companies,” said Glenn Cooke, CEO of Cooke. “High quality fishmeal and fish oil are essential animal and human nutritional ingredients. They ensure a safe and wholesome feed supply for the growth and care of animals in several farming groups, including aquaculture. We believe Copeinca will be a major contributor in furthering Cooke’s growth as a leader strengthening global food security.”

Copeinca holds numerous industry certifications that reflect its commitment to food security, health and safety, and environmental sustainability including MarinTrust, Friend of the Sea, ISO 14001, ABE, BASC, GMP+, and HACCP.

“Copeinca and Cooke share a people centric culture focused on building up working waterfronts in rural coastal communities through sustainable fish harvesting and responsible processing. Cooke’s strategic agility and vertically integrated operations will enable Copeinca to remain competitive in an evolving global export market,” said Jose Miguel Tirado, CEO of Copeinca. “Our Peruvian company is thrilled to join the Cooke family of companies. Peru and Canada have a very strong and growing trade and investment relationship thanks to active collaboration between governments under the Canada-Peru Free Trade Agreement.

Cooke entered the marine ingredients sector in 2017 with its acquisition of US-based Omega Protein Corporation, a nutritional product company and a leading integrated provider of specialty oils and specialty protein products.

Peru is the second largest export market for Canada in Central and South America, and Canada is the fourth most important export market for Peru in the world.

The acquisition is subject to customary closing conditions and is expected to close in November.

Deutsche Bank Securities Inc. acted as lead financial advisor to Copeinca, together with Antarctica Advisors International Corp.

About the Cooke family of companies:
Cooke Aquaculture Inc. was established in 1985 by the Cooke family in New Brunswick, Canada. From humble beginnings of one farm site and 5,000 salmon, Cooke Inc. is the largest private family-owned seafood company in the world employing 13,000 people worldwide. The Cooke family of companies operate global aquaculture and wild fishery divisions in 14 countries providing a sustainable seafood source reaching tables all over the world. Cooke’s core purpose is to ‘cultivate the ocean with care, nourish the world, provide for our families, and build stronger communities.

Glenn Cooke: Industry must unify to combat environmentalists’ unscientific claims

October 5, 2023 — The head of one of Canada’s biggest seafood companies believes the fishing and aquaculture sectors need to work together to push back against unscientific claims made by environmental groups.

Speaking at the Responsible Seafood Summit in Saint John, New Brunswick, Canada, Cooke Inc. CEO Glenn Cooke said

“We’ve got to work together because we now have the same common enemy,” Cooke said. “These environmental groups now have turned very strongly against wild fishing, so now the same groups that are hitting the farming are hitting a lot of fishing. The sooner we can coalesce into a major, stronger force to take them on, the better in my mind.”

Read the full article at SeafoodSource

Glenn Cooke: “It’s time for suppliers and producers to totally cut Russia off”

March 17, 2022 — Glenn Cooke is the CEO of Cooke Inc., a vertically integrated family of seafood companies based in Blacks Harbour, New Brunswick, Canada. He spoke to SeafoodSource on Tuesday, 15 March, at the 2022 Seafood Expo North America/Seafood Processing North America in Boston, Massachusetts, U.S.A.

SeafoodSource: What have been Cooke’s big moves over the past few months?

Cooke: We’re always investing in our operations globally and we just launched a vessel for Argentine red shrimp fishery with the capability to do frozen-at-sea product, which is quite exciting, as we’ll be in this year’s fishery there. It’s a state-of-the-art vessel. We’re in the process of finalizing a new USD 45 million (EUR 40.5 million) plant in St. George, New Brunswick for salmon added-value processing that will be very robotized, automatic, and cut down our labor costs, which we have do because of a shortage of [workers]. The facility that’s there will be replaced by a brand-new facility and the one that’s there will be redone into a secondary value-added processing center. And we have a new smolt unit almost ready to be finalized as well in New Brunswick. Around the world, we are expanding our operations – we’re always investing heavily globally and we’ll continue to do that.

Read the full story at SeafoodSource

Glenn Cooke, Ian Smith offer timeline for COVID-19 foodservice recovery

February 9, 2021 — The global COVID-19 pandemic has been a mixed bag for the seafood industry, with retailers notching record seafood sales and the category as a whole seeing gains, even as the foodservice industry virtually collapsed.

That downturn is expected to change direction this year, with foodservice operators optimistic about 2021. Seafood company CEOs and advisors, speaking during the National Fisheries Institute’s Global Seafood Market Conference’s economic outlook panel, also expressed optimism about the industry’s recovery. While in the short-term the rebound may be slight, as trend experts have predicted, once relative normalcy returns demand could see a big boost.

Read the full story at Seafood Source

MASSACHUSETTS: New Bedford seafood giant Cooke buys insolvent U.S. fish processor, expands global reach

October 29, 2020 — A division of New Brunswick seafood giant Cooke Inc. has acquired Mariner Seafood LLC of New Bedford, Mass., expanding the family-owned company’s operations in the United States.

True North Seafood, the flagship brand and processing arm of Cooke, purchased Mariner Seafood for US$2.75 million after the U.S. company filed for bankruptcy protection last month. The sale was approved by a Massachusetts court Monday.

The sale includes two processing plants in the port of New Bedford capable of processing more than 8,000 tonnes a year of seafood product, including scallops, haddock, cod, salmon and shrimp.

Glenn Cooke, CEO of Cooke, said it has been a dream of the family seafood company to have a presence in the historic, high-value fishing port.

“We now have over 4,000 Cooke employees in 22 U.S. states and we will continue to invest and grow our New Bedford processing operations,” he said in a statement.

Cooke, which started in rural New Brunswick in 1985 with three employees, now has a global workforce of more than 10,000 employees in 10 countries. It claims to be the largest privately held family seafood company in the world.

Read the full story at the Preeceville Progress

Seafood industry applauds Trump’s new executive order, while some groups cry foul

May 8, 2020 — An executive order issued on 7 April by U.S. President Donald Trump containing a number of new mandates intended to enhance the competitiveness of the U.S. seafood has drawn widespread praise from the industry, and has been derided by some environmentalists and fishing groups.

The new executive order contains an array of recommendations for wild-caught fisheries, and an extensive set of new tasks for multiple government administrations intended to expand the nation’s aquaculture. The new changes are devoted to removing barriers to permitting, improving regulatory transparency, and establishing new “Aquaculture Opportunity Areas.”

Read the full story at Seafood Source

Statement From Glenn Cooke Commending President Donald Trump On His Executive Order That Will Improve US Aquaculture Competitiveness and Economic Growth

May 8, 2020 — The following was released by Glenn Cooke, CEO of Cooke Seafood:

Glenn Cooke, CEO of the Cooke family of companies, provided the following statement after President Donald Trump signed the first ever Executive Order that includes provisions to improve U.S. aquaculture competitiveness and economic growth on Thursday.

“I am very pleased President Trump has recognized that domestic farmed production of aquaculture seafood is vital to help correct the severe trade imbalance and strengthen local food security. This should be viewed as a call to State and local governments that the country is in dire need of domestically produced seafood protein and that they should find ways to support, promote, and expand this essential food sector as other countries have.

As a family company, with marine fish farming operations in Maine and Washington and shellfish farming in North Carolina, and wild fisheries in other states including Virginia, Louisiana, Mississippi and Alaska, we are extremely proud of the hard work and dedication that our people put in every day to produce healthy seafood meals for families across the USA. Cooke Aquaculture USA in Maine was very proud to have been chosen as the supplier of sustainably farmed Atlantic salmon for the President’s 2017 inauguration. Our strong operations have shown that aquaculture presents a tremendous opportunity to create thousands of jobs and build vibrant working waterfronts co-existing with traditional fisheries in rural coastal communities.

President Trump and his Executive Agencies are to be commended for their leadership to address the regulatory challenges with establishing seafood farms by revising the National Aquaculture Development Plan and implementing a Nationwide Permit authorizing finfish, seaweed or multi-trophic culture in federal marine waters.”

Read the full release here

Cooke eyes deal for fast-growing Argentinian shrimp firm with Spanish plant

February 20, 2020 — Acquisitive Canadian seafood giant Cooke is eyeing a deal for Grupo Cabo Virgenes, an Argentina-based fishing and processing firm with a plant in Spain, reports Alimarket.

According to the website’s sources, Cooke is looking at buying all Cabo Virgenes’ assets, which include nine vessels and a plant in Argentina, and the value-added factory in Spain, but the talks are in the early stages and a deal is not imminent. Cooke is already operating in Spain, with seabass and seabream farmer Culmarex.

Cabo Virgenes and Cooke were not immediately available for comment to Undercurrent News. 

An Undercurrent source confirmed he’d also heard of the talks. “Cooke needs to enter the Spanish [shrimp] market and Cabo Virgenes is a good operation for starting with wild shrimp in Argentina,” he said.

Cooke has already started to expand in the Argentinian shrimp sector and Glenn Cooke, co-founder and CEO, told Undercurrent last year the company plans more deals. Cooke was previously being linked to a deal for vessels owned by Grupo Conarpesa Continental Armadores de Pesca (Conarpesa), but nothing materialized. The company has also snapped up two Central American shrimp farmers, Seajoy Group and Farallon Aquaculture de Nicaragua.

Read the full story at Undercurrent News

Cooke opens new AC Covert seafood distribution centre and retail outlet in Nova Scotia

December 3, 2019 — The following was released by AC Covert:

AC Covert, one of Canada’s largest seafood suppliers, is hosting an open house for the local community on Dec. 4th from 2-6pm at it’s new distribution centre and retail outlet at 390 Higney Avenue, located in the Burnside Business Park, Dartmouth, NS.

Since 1938, AC Covert has been the fishmonger supplier of choice for the finest retailers and food service professionals in Atlantic Canada. AC Covert delivers the freshest responsibly sourced and prepared fish to fine dining restaurants, hotels, gastro pubs, professional caterers and retailers locally and across North America.

AC Covert distributors was purchased by the Cooke family in 2008 and now offers over 400 different fresh and frozen seafood products to customers including smoked salmon, lobster, halibut, scallops and much more. The open house on Dec. 4th will feature seafood product samples, special offers and prizes.

“AC Covert now employs 30 people and Cooke spent $5.2 million constructing this new two-story, 26,000 square foot distribution centre and retail outlet where 6 delivery trucks operate from six days a week,” said Glenn Cooke, CEO of Cooke Inc. “This expansion is an integral part of our growth plan and we are part way through investing $112 million in Nova Scotia.”

“Nova Scotia is Canada’s number one seafood supplier and we now export to 80 international markets,” said Keith Colwell, Nova Scotia’s Minister of Fisheries and Aquaculture. “We’re home to a diverse range of premium quality seafood and value-added products and it’s wonderful that AC Covert has expanded in our province to distribute products from over 30 Nova Scotia seafood companies.”

“Burnside is the largest industrial park north of Boston and east of Montreal, with almost 2,000 enterprises and approximately 30,000 employees,” said Mayor Mike Savage of Halifax Regional Municipality. “Cooke’s investment in AC Covert shows how our growing community is a beacon for attracting business investment creating local jobs.”

AC Covert is open Monday-Saturday from 8:00 am – 4:00 pm.