Cooke seals $500m deal for protein provider
Cooke Aquaculture has completed the $500 million purchase of Omega Protein, the largest acquisition in the Canadian fish farmer's 32-year history.
Omega develops, produces and delivers dietary supplements and animal feeds from seven manufacturing facilities in the US, Canada and Europe, operating more than 30 vessels to harvest menhaden.
“The acquisition of Omega Protein will help further diversify the supply side of our business and supports our strategy of responsible growth as a leader in seafood production,” said Cooke Inc chief executive Glenn Cooke. “We are bringing together two innovative fishery teams with a passion for delivering superior products, service, and value to our customers in a safe and environmentally sustainable manner.”
Cooke said the animal feed ingredients produced by Omega Protein are an important component in its production of healthy Atlantic salmon, making the acquisition a strategic move that greatly enhances the family-owned company's vertical integration.
Cooke farms salmon in Scotland, Chile and the US, as well as Canada. It also has seabass and seabream farming operations in Spain. The addition of Omega Protein's staff to its payroll means it will now employ around 6,000 people worldwide.
