New facility and acquisition for West Coast food processor
By Food in Canada magazine staffBusiness Operations
Premium Brands has commissioned a new seafood processing facility in Richmond, B.C. and acquired a new business to put into it
Vancouver, B.C. – A specialty foods producer is opening a new seafood processing facility in Richmond, B.C.
Premium Brands Holdings Corporation, maker of Grimm’s, Harvest, McSweeney’s, Bread Garden Go, Hygaard, Hempler’s among many other brands, says the new facility will operate under the brand name, C2C Premium Seafood.
Premium Brands also acquired certain segments of the business of Harbour Marine Products Inc., namely its salmon and high-grade tuna sushi processing businesses, for $1.35 million.
Harbour Marine is currently in receivership. Premium Brands says its businesses generate annual sales of approximately $10 million. Harbour Marine’s employees will be moving to Premium Brand’s new Richmond seafood processing facility.
Premium Brands’ president and CEO, George Paleologou, says having Harbour Marine’s employees will provide the company’s new facility with “immediate critical mass.”
It will “also position us as one of the leading processors of sushi-grade tuna on the West Coast of Canada and the U.S. In addition, it will provide our Centennial Foodservice distribution business with proprietary access to very high-quality tuna and wild salmon products,” he says.
Paleologou adds that the new processing facility and the acquired businesses will help the company evolve its national seafood platform. Its seafood business has grown from under $20 million in sales in 2007 to projected sales of $142 million in 2013.
The company says it’s now in a position to offer large retailers and restaurant chains with national programs for live, fresh and frozen seafood.
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