Premium Brands adds seafood facility and businesses
VANCOUVER, B.C. – Premium Brands Holdings Corp. announced the commissioning of a new seafood processing plant in Richmond, B.C., and the purchase of salmon and high-grade tuna sushi processing businesses from Harbour Marine Products, Inc., for $1.35 million.
"The purchased Harbour Marine businesses, which generate annual sales of approximately $10 million, and the associated assets and skilled employees will be moved to our new Richmond seafood processing facility,” said George Paleologou, chief executive officer of Premium Brands. “This will not only provide the new facility with immediate critical mass but will also position us as one of the leading processors of sushi grade tuna on the West coast of Canada and the U.S. In addition, it will provide our Centennial Foodservice distribution business with proprietary access to very high quality tuna and wild salmon products."
The acquisition positions Premium Brands to sell live, fresh and frozen seafood to large retailers and restaurant chains, Mr. Paleologou said.