Canadian seafood firm seeks expansions

New Brunswick-based seafood company, Cooke Aquaculture, has announced the signing of a Letter of Intent to purchase the assets of Ocean to Ocean and its subsidiary Ocean King.

The transaction is consistent with Cooke's growth strategy and focus on vertical integration and expanding the company's line of products. Over the past twenty-seven years, the company has built a fully integrated aquaculture company with more than US$450 million in annual sales and management over its entire salmon farming value chain - from egg to plate.

The deal is expected to close at the end of March.

Cooke Aquaculture Inc. is an east coast family-owned company based in Black's Harbour New Brunswick with operations in Atlantic Canada and Maine. Cooke Aquaculture and its sales and marketing division, True North Salmon, sells a broad spectrum of fresh, farmed seafood products into the Canadian and US market.

Cooke also owns Salmones Cupquelan, a salmon farming company in southern Chile.