Blue Harvest Fisheries Acquires High Liner Foods’ Scallop Business

NEW YORK & NEW BEDFORD, Mass.--(BUSINESS WIRE)-- Blue Harvest Fisheries, LLC (“Blue Harvest” or the “Company”) has today announced the acquisition of High Liner Foods’ scallop business and processing facility in New Bedford, MA. High Liner Foods (TSX: HLF) (or “HLF”), headquartered in Lunenberg, Nova Scotia, is one of the largest seafood companies in North America.

The acquisition of High Liner Foods’ scallop business further strengthens Blue Harvest’s existing processing and distribution capabilities. Blue Harvest entered the scallop processing and distribution business in August 2016 via the acquisition of Hygrade Ocean Products, Inc.

“HLF’s expertise and distribution capabilities in the frozen scallop market are highly complementary to our existing capabilities in the fresh scallop market,” said Mr. Jeff Davis, CEO of Blue Harvest Fisheries. Mr. Davis continued by saying, “Through this acquisition we will grow our customer base, increase our portfolio of quality assured products, and build increased presence in the premium seafood marketplace.”

Mr. Keith Decker, President and CEO of High Liner Foods stated, “We are pleased to conclude this transaction with Blue Harvest and look forward to working with them to continue to offer high-quality, sustainable scallop products to our valued customers."

Mr. Scott Perekslis, Managing Partner and co-founder of Bregal Partners said, “We are pleased to support management’s vision and strategic direction to be a premier provider of sustainable seafood products. This acquisition speaks to the Company’s strategy of creating a vertically-integrated seafood brand that is anchored in trust, quality, and sustainability.”

About Blue Harvest Fisheries

Blue Harvest Fisheries, established in 2015, is devoted to the sustainable harvesting, processing, and marketing of MSC-certified premium Atlantic sea scallops and the sales and distribution of other premium seafood products such as cod, bluefin tuna, and swordfish. Blue Harvest is committed to harvest seafood from only well managed, sustainable fisheries and further strives to have all its seafood third party certified for sustainability. For more information on Blue Harvest Fisheries, please visit www.blueharvestfisheries.com.

About Bregal Partners

Bregal Partners is a private investment firm with $600 million of committed capital that invests alongside management teams to build industry-leading companies in the middle market. Areas of focus include energy services, consumer, food and retail, and healthcare. Bregal Partners brings experience, stability, and a long-term outlook to all of its investment activities. Bregal Partners is part of Bregal Investments, a global family of private equity and fund investment vehicles that has invested more than $11 billion since 2002. Bregal Investments is a part of COFRA Holding AG, which is a family company in its sixth generation. For more information on Bregal Partners, please visit www.bregalpartners.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160912005426/en/

Bregal Partners
BackBay Communications
Phil Nunes, 617-391-0792
[email protected]
or
Blue Harvest Fisheries, LLC
Alexandra Jostrom, 508-997-7100
Mobile: 603-440-5943
Marketing & Communications Manager
[email protected]

Source: Bregal Partners

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