The two firms issued a joint press release Wednesday announcing the deal was off, citing that they could not reach an agreement on Trident's acquisition of Ocean Beauty's processing assets.
"I have tremendous respect for the owners and employees of Ocean Beauty," said Chuck Bundrant, founder and chairman of Trident. "We simply were not able to reach an agreement on this transaction."
Mark Palmer, president of Ocean Beauty, did not comment.
Trident said in late March it reached a deal to acquire Ocean Beauty’s seafood processing assets, and the companies also agreed to enter into joint ventures regarding their smoked fish and Ocean Beauty’s seafood distribution businesses.
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