Canadian seafood firm Cooke has added to its growing portfolio with the purchase of US-based Slade Gorton.
The fee was not disclosed by either party.
The Slade Gorton family business will continue to be led by fifth generation Kim Gorton as CEO and Mike Gorton as Executive Vice President.
The Boston-based business, which has been in business for more than 90 years, sells more than 800 seafood products through retail and foodservice, including Atlantic salmon, lobster and Icelandic cod. Sources fresh and frozen foods from over 25 countries.
“For nearly a century, Slade Gorton has built a robust and resilient world-class supply chain in support of our family’s passion for making sustainable seafood accessible to all,” Kim Gorton said in a statement.
“As the world has evolved in recent years, it became clear that to accelerate our mission and impact, it made sense to join forces with a diverse, vertically integrated company led by people who share our family values and vision to reshape the world. Consumer experience with seafood.
Cooke has annual sales of around C$2.4 billion (US$1.8 billion) and runs several fish farming operations around the world, including salmon farming in Canada, the US, Chile and Scotland.
“We will build on the experience, innovation and deep commitment to customer success for which Slade Gorton is so highly regarded,” said Glenn Cooke, Cooke’s chief executive officer.
“Working together with the True North Seafood sales team and leveraging Cooke’s infrastructure and global reach, we will help our customers increase seafood consumption in North America.”
The deal will be completed in the coming weeks.
Cooke announced two seafood acquisitions in August 2022, first with Belgian shrimp company Morubel and then struck a deal with Tassal.