Aquamar, Inc., Rancho Cucamonga, Calif., and LM Foods, LLC, Carteret, N.J., combined forces to create a new platform in the surimi seafood market, producing and selling crab-flavored seafood to foodservice, food manufacturing and retail channels primarily in North America.
Aquamar produces refrigerated and frozen shred-style surimi products, most of which are sold under the Aquamar brand name, to restaurant/foodservice customers and major retailers.
LM Foods produces frozen, private label surimi seafood under the Classic Bay brand name. LM Foods’ chief executive officer Mark Olivito will lead the new platform and serve on its board of directors.
"Aquamar and LM Foods have complementary capabilities that we think will fit together nicely and serve as a growth platform moving forward," says Olivito. "Having manufacturing facilities on both U.S. coasts will enable us to serve our customers better and continue to expand the combined business."
This transition creates a larger organization that will provide greater scale, more cost-efficient operations and expanded sales and distribution channels. Likewise, customers will benefit from the company's ability to further improve quality and product innovation while offering the most complete portfolio of products on the market.
"As a co-founder, joining forces with LM foods is an exciting partnership and next step for our business," says Hugo Yamakawa, president of Aquamar. "With seafood consumption continually rising, the new platform will offer the most innovative and wide-ranging selection of surimi seafood products for our customers."
Together, the organizations' sell seafood products across the United States, Canada, Mexico and Central America under owned and licensed brands and as a private label manufacturer for other market participants. The company will continue to operate their facilities in California and New Jersey with plans to invest significant capital in both locations.