Champlain Seafood has acquired BA Richard, a lobster-processing company based in Sainte-Anne-de-Kent, New Brunswick, Canada.
Champlain Seafood was formed by Champlain Financial Corporation after it acquired a number of different processing companies. Champlain Financial Corporation has steadily added to Champlain Seafood with several acquisitions, including Cheticamp Fisheries, Boston Lobster, Boston Wholesale Lobster, Downeast Cape Bald Packers, Lobsters R Us Seafood, and Captain Dan’s Seafood. Neither company disclosed the terms of the acquisition.
The company said BA Richard has maintained a strategic partnership with Cape Bald Packers for the past 30 years, which served as an inroad for initiating the newest acquisition. “We are honoured to welcome BA Richard into the Champlain Seafood family. As one of the last remaining independent lobster processors known for exceptional quality, BA Richard represents a valuable addition to our platform,” Champlain Seafood Co-CEO David Saucy said.
Saucy said that BA Richard will be fully integrated into Champlain Seafood and that operations will continue at its current location in New Brunswick. “This marks a significant milestone for BA Richard employees and our organisation – we are Stronger Together!” Saucy said.
BA Richard’s former owner, Marcel Richard, said the partnership with Cape Bald has been successful over the last 30 years, and the purchase allows the company to continue that relationship for the foreseeable future. “When we made the decision to sell, it was essential for us to choose a company that would honor our legacy, values, and business practices,” Richard said.
News Courtesy: seafoodsource