August 4, 2015
Cooke Aquaculture expands farming capacity in Scotland, UK
Cooke Aquaculture Scotland Ltd., a subsidiary of Cooke Aquaculture Inc., has announced the acquisition of shares in Thompson Bros. Salmon Limited, a salmon farming company located on the island of Yell, North East on Shetland, UK.
This deal adds two farm sites to Cooke Aquaculture Scotland's operations. The sites are located adjacent to Cooke's existing facilities at Unst and Yell, which, over the past few years, has been one of the company's best performing areas.
"We are very pleased to have been able to secure this operation. The Unst / Yell area on Shetland is a very attractive area to operate, with good staff and optimal fish health," said Colin Blair, the managing director of Cooke Aquaculture Scotland Ltd.
"After this transaction, Cooke will own all salmon farms in the area," Glenn Cooke, the CEO of Cooke Aquaculture Scotland, added. "That will allow us to coordinate management for the entire area and enhance our ability to meet a growing demand for our products. We expect the combined business to improve our performance, bringing our total harvest for Cooke Aquaculture Scotland to approximately 22,500 tonnes DHON in 2016."
The transaction is consistent with Cooke Aquaculture's focus on vertical integration and diversification in terms of geography, products and markets. Cooke's strategy is to achieve growth through acquisitions and organic growth that is both sustainable and responsibly managed to meet a growing market demand for quality seafood.