Editorial and managing director Tom Seaman brings you a roundup of the main stories from the previous week
The under-the-radar entry of US swimming crab giant Phillips Foods into the Canadian lobster processing sector emerged last week.
On Jan. 29, Undercurrent News revealed Baltimore, Maryland-based Phillips is set to purchase Canadian lobster company South Shore Seafoods from an insolvency process.
Court documents filed in a Supreme Court in the Canadian province of New Brunswick on Jan. 24 show the Maryland-based firm has formed a new subsidiary, Phillips Bridge Seafoods, to buy South Shore, which previously had a turnover of CAD 300 million ($223m) before its financial difficulties.
The sale purchase agreement, dated Jan. 12, is signed by Brice Phillips, a senior executive with the company.
Phillips, formed in 1914, operates crab processing facilities in the US, Mexico and Asia and has several restaurants across the US. South Shore is based in New Brunswick and has operations in Prince Edward Island and Nova Scotia [...]
Want to access a free article?
Create a free profile and access all the free articles available.
For unlimited access to all articles sign up for a 7-day trial
or purchase a full subscription.
Have an account? Log in here:
Enter the email address associated with your account. We'll send you instructions to reset your password.
We’ve sent a link to to change your password.
Please check your inbox to reset your password securely and easily.
