Foodservice meat processor and distributorDiamond Ranch Foods, Ltd., New York, N.Y., said it agreed to purchaseExecutive Seafood, Inc., a Bronx, N.Y., seafood wholesaler. Terms of the deal -- scheduled to close by June -- were not disclosed.
Upon completion, Executive Seafood will operate as a wholly owned subsidiary, officials said. Meanwhile, Diamond Ranch said it will begin offering Executive Seafood products to all Diamond Ranch customers throughout New York, New Jersey and Connecticut.
Said Diamond Ranch President and CEO Louis Vucci, “The acquisition of Executive Seafood is certainly a top priority, so we will be working diligently to complete this transaction in a timely manner. Indeed, the successful addition of their seafood operations should markedly increase our annual revenues, and further serve to fortify our double-digit quarterly growth plans."
Diamond Ranch Foods said it offers a broad selection of meats, poultry and foodservice items, including private label and custom-cuts, which can be prepared fresh, frozen or vacuum-packed. The company operates a fleet of refrigerated trucks for delivery throughout the New York metropolitan area and ships coast to coast via common carrier.
Diamond Ranch has USDA-inspected meat processing facility in the Hunts Point Cooperative Market (Bronx, N.Y.).
