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The acquisition of Gault Seafood is being done through a combination of cash and equity.
Blue Star Foods Corp. To Acquire the Assets of Gault Seafood, LLC
(UNITED STATES, 12/14/2021)
Blue Star Foods Corp., (NASDAQ:BSFC) (“Blue Star” or “BSFC”), an integrated Environmental, Social, and Governance (ESG) seafood company, today announced that it has signed a term sheet to acquire certain assets of Gault Seafood, LLC (“Gault Seafood”), a Recirculatory Aquaculture Systems (RAS) company with unique technology focused on harvesting the Atlantic Blue Crab during its off-season. Gault Seafood has been in operation for close to 20 years and is based in Beaufort, South Carolina.
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| Blue Star's Crab'n Go, portable, premium quality crab meat for today’s on-the-go consumer. |
“The Gault Seafood team has developed a special RAS technology that will allow us to modify the molting cycle of the Atlantic Blue Crab and therefore be able to harvest them in the off-season. The existing crab season starts in March in Louisiana, and moves slightly northward every couple of weeks until you hit September in New Jersey. Outside of this window, it’s almost impossible to get any of this product and bring it to the North American market. We believe with this technology, we will be able to satisfy consumer’s desire to enjoy the Atlantic Blue Crab all year long.” said Rodrigo Mezerhane, a Senior Project Manager at Blue Star. “We believe that Blue Star has the unique ability to leverage the technology that the team at Gault Seafood have created and scale it to establish a whole new market that does not exist today.”
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| John Keeler. |
“The acquisition of Gault Seafood follows an M&A strategy that we have established for ourselves, which is to acquire new innovative technologies, or companies where we can layer in our sustainable resource management model, or that diversifies our offering of marine protein species, “said John Keeler, Chairman and CEO of Blue Star. “This will be our third acquisition in 2 years, and it shows our history of our being able to successfully identify, acquire and operationally integrate new companies into our organization.”
The acquisition of Gault Seafood is being done through a combination of cash and equity. The transaction is expected to close in Q1-2022. Newbridge Securities Corporation is acting as the Exclusive M&A Advisor to Blue Star Foods Corp. and The Crone Law Group is acting as the Company’s Legal Counsel.
About Blue Star Foods Corp.
Blue Star Foods Corp. is an integrated ESG seafood company that processes, packages and sells high-value seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida.
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Blue Star's land-based salmon production.
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Source: Blue Star Foods Corp.
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Address:
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3000 NW 109th Ave
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City:
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Miami
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Florida (33172)
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United States
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+1 305 836 6858
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+1 305 503 0880
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[email protected]
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