Cadman Capital Group has acquired Quoddy Savour Seafood, a Canadian seafood farming and processing business.
The Quoddy plant is based in Pennfield, New Brunswick, in eastern Canada and is situated on a 33-acre site next to the Bay of Fundy. The plant has the capacity to raise and hold lobsters and urchins, as well as other local fish species.
The facility has access to key US seafood markets including New York, Boston, Montreal and the wider North American East Coast.
James Dinsdale, CEO of Cadman, said: “Quoddy Savour Seafood joins the Group at an exciting time for the business. The acquisition reiterates our continued commitment to developing restorative aquaculture solutions to support the sustainable improvement of marine ecosystems. We look forward to working with the existing team and local community and fisheries to bring income and jobs to the region.”
Terms of the transaction were not disclosed.
© FoodBev Media Ltd 2022
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