Seatrade International and American Holdco formalized an existing long term strategic relationship

American Holdco Acquires Seatrade International

Michael Tourkistas, President & CEO of East Coast Seafood, Inc., has announced the acquisition of Seatrade International Co., Inc. by East Coast Seafood's parent company, American Holdco, Inc. (AHI).

East Coast Seafood sells live and frozen lobster and seafood throughout the United States, Europe and Asia. The company's headquarters are in the greater Boston area of Massachusetts with direct distribution offices throughout Europe.

American Holdco, Inc. offers high quality seafood products worldwide through a sophisticated and fully integrated network of companies.

East Coast Seafood has built an unrivaled reputation as a global leader in the seafood industry around its signature product, North American live lobster

Seatrade International operates scallop processing plants in Portsmouth, New Hampshire and New Bedford, Massachusetts. Seatrade sells its products throughout the United States and Europe with a network of both direct sales and sales representatives.

East Coast Seafood CEO, Michael Tourkistas

"Our combined operations present an excellent fit and formalize an existing long term strategic relationship," said Michael Tourkistas.

"In keeping with AHI's strategic vision of vertical and horizontal integration, this acquisition is a step in building a highly diversified seafood company with logistical efficiencies and continued commitments towards sustainable practices and responsible business."

"When delivering high quality seafood products to customers around the world, there are many positives to sharing operational advantages, which is at the very heart of the companies' sustainability mission, Plan Green. With goals focused on five areas of operational improvement including Energy, Waste, Community, Education and Sustainability, AHI aims to benefit all partners in the supply chain through this merging of two seafood leaders", added Tourkistas.

Steve Barndollar, President of Seatreade International, said: "The AHI family of brands complements our business and provides us all an excellent platform for growth. Our Seatrade team is excited by the opportunity to address a larger, consolidated customer base, while providing enhanced product offerings and logistical advantages; thereby creating incremental value for all of Seatrade's stakeholders - our employees, harvesters, and customers."

The East Coast Seafood live lobster and fresh seafood facility is located on 204 acres of land on Deer Island, which is nestled in the purest waters of the north Atlantic coast and Bay of Fundy

About East Coast Seafood Inc.

East Coast Seafood Inc., established in 1981, is a global leader in the seafood industry specializing in North American live lobster.

Today the company operates worldwide, fulfilling customer requirements and providing a diversified line of top quality seafood products. East Coast Seafood services customers across the globe from its facilities in the USA and Canada as well as its European sales and distribution operation.

East Coast Seafood customers and partners benefit from access to a vertically integrated network focused on maintaining high levels of product quality, reliability, and customer service.

About American Holdco, Inc. – AHI

American Holdco, Inc. offers high quality seafood products worldwide through a sophisticated and fully integrated network of companies.

AHI owns and operates several additional subsidiaries including: Paturel International Company, with processing facilities in New Brunswick and Nova Scotia, Canada; Worldwide Perishables Enterprises, Inc., a perishable freight forwarding company located in Chelsea, Massachusetts and Halifax, Nova Scotia, Canada; and Canadian Gold Seafood Company, with offices in Halifax, Nova Scotia and Brussels, Belgium.

About Seatrade International Co., Inc.

Seatrade International Co., Inc. was founded in 1981 as an export marketing and trading company.

Seatrade quality scallops

In 1988, Seatrade moved into primary fish processing and opened its first production facility in Portland, Maine.

Following a relocation to Portsmouth, New Hampshire, in the early nineties, further plants were opened in New Bedford, Massachusetts, and the company now has a work force of 150 people.

In 1997, Seatrade began producing fresh scallops and is today one of the largest packers of fresh and frozen scallops in the United States.

The company not only sources scallops all over the world but also exports fresh and frozen product into European and Asian markets.

Source: East Coast Seafood Inc.

Margaret E.L. Stacey
Editor Companies and Products
[email protected]
www.seafood.media

Address:	175 Alley Street - P.O. Box 790
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State/ZIP:	Massachusetts (01903)
Country:	United States
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