Seafood company buys Nicaraguan shrimp supplier
Cooke Inc. acquired Farallon Nicaragua, a company that produces Pacific white shrimp
A New Brunswick seafood company has bought a Nicaraguan shrimp supplier.
Cooke Inc. bought Farallon Aquaculture de Nicaragua S.A., a company with markets in Asia, Europe and the U.S.
Farallon Nicaragua has 384 employees and includes three farms and an onsite processing plant.
"They're a very recognized and respected brand throughout Asia and the United States and Europe," said Joel Richardson, a Cooke spokesman.
In February, Cooke Inc. bought Seajoy Seafood, an organic shrimp company based in Honduras and Nicaragua.
"Farallon Nicaragua, which is located very close to Seajoy, was another opportunity to acquire a very reputable shrimp farming company and we felt that it was a great opportunity to be able to develop our fresh frozen shrimp for major markets," Richardson said.
He said they couldn't disclose the purchase price because Farallon Nicaragua and Cooke Inc. are privately owned.
Cooke Inc. does not farm in India, Vietnam, Thailand or China where a CBC Marketplace investigation found high levels of antibiotic-resistant bacteria on imported shrimp at Canadian grocery stores.
Richardson also said Farallon Nicaragua shrimp are organic and free of antibiotics.