Hello all --
Seafood CEOs had a lot to say last week.
Among the stories we ran, read our exclusive with Cooke CEO Glenn Cooke about his European shrimp acquisition and an up-close-and-personal interview with Cermaq boss Steven Rafferty.
Cooke had the nerve to acquire another company -- Australian salmon farmer Tassal -- just days after our piece.
Earnings from Canadian frozen seafood giant High Liner and Nomad Foods (parent of Birds Eye and Iglo frozen fish brands in Europe) meant they wanted to signal to investors where things were headed. Both were upbeat about the future, despite the mixed economic predictions.
High Liner CEO Rod Hepponstall and CFO Paul Jewer said their years-long turnaround project now has the company in a place where they are "in a position to move" on M&A opportunities.
Nomad Foods CEO Stefan Descheemaeker said his company is blunting the potential impact of sanctions on Russian whitefish by turning toward Vietnamese farmed fish pangasius.
But few CEOs were able to match the recent work of Doug Paulin, who heads up New Zealand seafood giant Sealord. With a major worker shortage facing the company, Paulin has taken the unusual step of working on the factory floor. In some places, the processing floor is fondly referred to as "the slime line," and for good reason. More CEOs should do regular shifts -- it might help them see that side of the business differently.
In more Russia news, close associates of Russian oligarch Roman Abramovich sold off their stake in a major pollock-harvesting company, just the latest of a slew of executives extricating themselves from ownership of assets in anticipation of sanctions.
The battle for the US shrimp market is heating up, and Ecuadorian farmed shrimp producers are making the biggest gains. Here's why.
Plant-based and cellular seafood companies keep expanding, and that means the issue of how to label them has become more urgent than ever. Executive Editor John Fiorillo looks at just one of the many challenges to overcome.
- After losing takeover battle, owner of Norwegian salmon farming giant launches $1 billion acquisition vehicle
- Former Bumble Bee CEO Lischewski loses court fight related to price-fixing case then fires legal team
- Whole Foods supplier salmon supplier hopes high prices can offset struggles with mortalities, sea lice
- BioMar, Icelandic seafood giant to build net-zero aquaculture feed facility
From the Archive:
We have 200,000 articles stretching back over two decades, so it's worth picking one out from time to time. This week, I want to highlight this piece from a few years back on worms -- yes, worms -- just one of many potential ways climate change could impact fish.
Don't miss our next Seafood Investor Forum in London on Sept. 29th in-person at the Wallbrook Building. We have a fantastic lineup of speakers and panels lined up. More info on the event and registration here.
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Have a great week.
- 'Projects starting up in the next 3-5 years will be a lot stronger from day one': Billund CEO sees new, more stable era in land-based aquaculture
- 'They know it will be more expensive tomorrow': Demand pushing Norwegian cod prices as much as 60% higher than this time last year
- New Russian Fishery supertrawler catches fire