January 15, 2020 — With deals for two massive US seafood firms set to close early this year, there’s a good chance that 2020 will be another bumper year for seafood mergers and acquisitions (M&A), after 2019 saw a surge in both deal values and quantities.
A total of $5.16 billion was spent on seafood mergers and acquisitions (M&A) in 2019, over $1bn more than 2018 ($3.86bn), according to data compiled by Undercurrent News from transactions where the sale value was revealed or could be estimated.
Last year has therefore replaced 2018 as the second-most lucrative year for seafood deals on record, behind only the $5.83bn spent in 2015, driven by the sales of aquafeed giants EWOS Group and Nutreco.
Had the sales of US megafirms American Seafoods Group (ASG) and Bumble Bee Foods been closed before the end of December, last year may even have beaten 2015’s record. ASG is reputedly valued upwards of $1.5bn, and possesses a pollock quota holding of 250,000 metric tons.
As of Nov. 12, 2019, a pollock consortium — comprised of Aleutian Spray Fisheries, Arctic Storm Management Group, Glacier Fish Company and Trident Seafoods — is the frontrunner for ASG’s business, but there still remains a possibility that Bregal Partners, the largest shareholder in the firm, chooses not to sell its stake.