Boston, MA, February 5, 2019 - Tully & Holland, Inc. is pleased to announce that our client, Seajoy Seafood Corporation ("Seajoy"), has been acquired by Cooke Inc. ("Cooke"). Seajoy is one of largest producers of premium farmed shrimp in Latin America with a particular focus on value-added products. Seajoy focuses on producing sustainable premium Pacific White Shrimp and packs frozen natural and organic shrimp for longstanding and well-known customers based primarily in the U.K., Europe and the U.S. Seajoy has nearly 3,000 hectares of farms located in Honduras and Nicaragua including hatcheries, breeding programs and processing plants. With its high quality and sustainable products, healthy on-trend product line, solid financial performance and additional growth potential, Seajoy was an attractive acquisition candidate to several strategic and financial buyers. Cooke was attracted to Seajoy as a platform investment into the shrimp sector which aligns well with its existing aquaculture and wild seafood fishery divisions.
Seajoy has been a family business since it was founded in 1979. The owner saw an attractive opportunity to sell the Company as demand for high-quality protein products increases and the market consolidates. Peder Jacobson, Seajoy's owner, commented: "we are extremely pleased that Cooke, another legacy family business, is purchasing our Company and can build upon its wonderful legacy. Tully & Holland was very determined in its effort to identify and find a range of alternatives for us as well as helping us navigate the complexities of closing a cross border-transaction involving multiple jurisdictions and unique closing conditions. We are very pleased with the outcome."
About Tully & Holland, Inc.
Tully & Holland, Inc. www.tullyandholland.com acted as the exclusive financial advisor to Seajoy Seafood Corporation. Through this transaction, Tully & Holland ("T&H") has gained tremendous insight into the seafood industry and the demand dynamics for both prospective buyers and sellers.
Tully & Holland is a leading Boston, MA-based investment bank established in 1992. The firm provides corporate finance and mergers & acquisitions advisory services to middle market consumer product companies. Tully & Holland has particular expertise representing food & beverage companies, multi-channel marketers, retailers, and consumer product manufacturers and distributors. Tully & Holland is led by a senior management team with significant industry and investment banking experience. Please do not hesitate to contact us should you wish to discuss further.