American Seafoods Sells American Pride in 34.5 Million Dollar Deal
American Seafoods Group, one of biggest commercial fishing companies involved in the Alaska pollock fishery, has sold their east coast seafood processing business, American Pride Seafoods. The sale to High Liner Foods was announced October 1, 2013. High Liner Foods reportedly paid $34.5 million for this subsidiary of American Seafoods. The American Seafoods sale of American Pride Seafoods marks a departure from the company’s previous sea-to-plate market integration.
American Pride Seafoods is a value-added frozen seafood and scallop processing business with revenues of $190 million reported in 2012. Typical products include breaded seafood products such as fish and chips, frozen seafood, and seafood packaged for use by restaurants and retail food providers. High Liner Foods indicated that they intend to continue to operate American Pride Seafoods at the New Bedford location without any substantial changes at this time.
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