Aquamar surimi seafood. (Photo: Aquamar)

Aquamar and LM Foods partner to create 'surimi platform'

Aquamar, Inc. and LM Foods, LLC have partnered to create a new platform in the surimi seafood market, producing and selling crab flavoured seafood to foodservice, food manufacturing, and retail channels primarily in North America.

"Aquamar and LM Foods have complementary capabilities that we think will fit together nicely and serve as a growth platform moving forward," pointed out LM Foods CEO Mark Olivito, who will lead the new platform and serve on its board of directors.

Olivito stressed the importance of having manufacturing facilities on both US coasts to enable them to serve their customers better and continue to expand the combined business.

In his view, this transition secures both companies' futures by creating a larger, thriving, growing organization that will provide greater scale, more cost-efficient operations, and expanded sales and distribution channels.

For his part, Aquamar’s president Hugo Yamakawa stressed: "With seafood consumption continually rising, the new platform will offer the most innovative and wide-ranging selection of surimi seafood products for our customers."

Huron Capital, Detroit-based private equity firm, made an equity investment in the platform in partnership with Olivito, Yamakawa and other members of management, who will be significant shareholders in the new platform.

Based in Rancho Cucamonga, California, Aquamar was founded in 1991 and produces both frozen and refrigerated products, most of which are sold under the Aquamar brand name. The company is one of the leading manufacturers of shred style surimi in North America, selling to restaurant/foodservice customers and major retailers.

LM Foods was founded in the early 1990s and is based in Carteret, New Jersey. The firm primarily produces frozen, private label surimi seafood, offering premium, select and value products to its customers and selling premium products under the Classic Bay brand name.

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.

 
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Address:	10888 7th Street
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Country:	United States
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