NEWS

See all articles

Salmon smoker MacKnight eyes sale by year's end

Company would prefer deal to happen this year but tight lipped on latest developments.

The owner of Miami-based smoked salmon specialist MacKnight Foods says he is hopeful a buyer might emerge for his operation before the end of 2018 but is uncertain whether this will happen.

"We have been in the process of doing that for some time now," CEO Jonathon Brown told IntraFish.

When asked if he thought a deal could be reached this year, Brown said, "It would be nice to think that, yeah. I would honestly have no idea."

The US smoked salmon market is one of the most competitive sectors in seafood, with dozens of brands competing for market share.

MacKnight produces a range of value added products for the foodservice and retail sector.

In addition to its US operations, MacKnight also operates in the UK.

In its most recent financial filing at Companies House, the company reported sales of £19.6 million ($25.4 million/€22.2 million) for the year ended Dec. 31 2016.

A US district court earlier this year ordered Santa Barbara Smokehouse to pay MacKnight Food Group $2.1 million (€1.7 million) as part of a settlement reached between the companies.

The case pitted brothers Jonathon and Timothy Brown, CEO of Santa Barbara Smokehouse against each other over a range of issues, including licensing agreements and trademarks.

Latest news
Most read