The trū Shrimp Co., an affiliate of Ralco, Balaton, Minn., and Schwan’s Co., Bloomington, Minn., formed a strategic partnership designed to help propel in-land shrimp production forward.
The partnership will generate opportunities to work together in providing consumers with safe, natural shrimp. Jon and Brian Knochenmus of trū Shrimp have also invited Schwan’s Co. to designate a member to join the board of directors.
“We have been watching with great interest the concept and the progress that was being made by trū Shrimp. At Schwan’s, we are intrigued and excited about the possibilities of in-land shrimp production, and view this as an excellent opportunity to provide consumers with a predictable and traceable supply of nutritious shrimp,” says Dimitrios Smyrnios, chief executive officer of Schwan’s Co. “We are also proud to work with trū Shrimp, as it develops its core business in our hometown of Marshall to the benefit of the southwest Minnesota area.”
“We are eager to be a part of this strategic relationship with Schwan’s Co.,” says Ralco president and CEO Brian Knochenmus. “This is our first opportunity to collaborate, and they are a proven company that brings great market insight and capabilities to assist the growth and development of trū Shrimp. Schwan’s Co. recognizes the potential of what trū Shrimp is doing, and the impact it will have not only domestically but also internationally.”
An initial point of cooperation for the companies is the renovation of available manufacturing space in Marshall, Minn., owned by Schwan’s. The space will be converted into the company’s first shrimp processing facility. trū Shrimp also plans to locate a shrimp hatchery in Marshall.
“The Schwan’s Co. investment completes the capital footing of trū Shrimp and fuels our plans to full speed,” adds Michael Ziebell, chief executive officer of trū Shrimp. “Work is progressing on every aspect leading to the production and marketing of safe and abundant shrimp.”