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February 26, 2014

Japan/United States

Marubini Buys Eastern Fish Company

 

On February 26, 2014, Marubeni Corporation announced that it had reached an agreement to acquire Eastern Fish Company, in New Jersey, USA, for $56.7 million.

 

The deal will boost Marubeni’s shrimp sales in Japan and the USA to $489 million, said Marubeni in a press release. Marubeni sells about 23,000 tons of shrimp a year with shrimp revenues of around $230 million.

 

Eastern Fish, founded in 1974 by Bill Bloom and now run by Eric Bloom, is one of the largest shrimp and seafood distributors in the USA, with annual sales of around $350 million.  Eastern has deep ties to Ecuador, and over the years has specialized in selling shrimp to many major American retailers.

 

   
  Places Where Eastern Fish Sources Shrimp  

 

Eastern sells about 70 million pounds of shrimp annually, and sources product from Mexico, Thailand, China and other countries, including wild caught shrimp from Guyana and Newfoundland.

 

Marubeni says that shrimp consumption is increasing world wide and that the acquisition of Eastern Fish will increase its sales of shrimp in Japan and the USA to $488 million a year.

 

In 2013, Marubeni announced a strategic partnership with a Thai shrimp processor, Seafresh Industry.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Marubeni Buys Eric Bloom’s Eastern Fish Company/Moves to Secure Strategic Access to Shrimp.  John Sackton.  February 26, 2014.

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