Seafood Shorts: Blue Horizon, Hub City Fisheries in the news
Venture capital investor Bradmer Foods, Baltimore, said it made a "follow-on" investment in Blue Horizon Wild, an Aptos, Calif., frozen seafood processor. Bradmer also said it appointed consumer branding expert Michael Rice as Blue Horizon's chief executive officer. Rice co-founded the Sterling-Rice Group, an integrated marketing company in Denver. Blue Horizon's product line includes frozen lobster macaroni and cheese, crab cakes and fish sticks.
Diversified food processing and distributing giant Premium Brands Holdings Corp., Richmond, B.C., said it purchased a controlling 60 percent stake in Hub City Fisheries, a fresh seafood processor in Nanaimo, B.C. (Vancouver Island).
"Hub will play an integral role in the development of our rapidly growing seafood initiatives. In particular, our B&C Foods, Centennial and Maximum Seafood businesses will be working with Hub to generate new product offerings and programs for both their retail and foodservice customers," said George Paleologou, Premium Brands president and CEO.
Paleologou added, "Fresh seafood is an exciting and fast growing product category in the food industry. "The addition of Hub, which has sales of approximately $10 million per year, will expand our seafood business platform to almost $100 million in annual sales."