Seafood producer Cooke Inc has completed the $500 million takeover of protein product manufacturer Omega Protein.
The deal was worth $22 per share, which Cooke paid in cash. The acquisition is the largest in the 32-year history of the company.
Omega Protein produces a range of speciality protein products which are sustainably sourced and include omega-3 from fish, whey protein from Wisconsin dairy farms and a range of speciality oils such as coconut and borage seed oils.
As a result of the deal, Cooke will obtain Omega’s seven manufacturing facilities, which are located in the United States, Canada and the Netherlands.
Glenn Cooke, CEO of Cooke Inc said: “The acquisition of Omega Protein will help further diversify the supply side of our business and supports our strategy of responsible growth as a leader in seafood production.
“We are bringing together two innovative fishery teams with a passion for delivering superior products, service, and value to our customers in a safe and environmentally sustainable manner.
“We started our family-operated company in 1985, and through the hard work of our employees have grown to become a fully-integrated global seafood leader offering a wide array of farmed and wild-caught products to customers around the world.”
Source: FoodBev
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