Australian soy foods producer So Natural Foods Australia has acquired tinned seafood brand Paramount Seafoods from Bumble Bee Seafoods of the US.

As part of the deal, So Natural Foods has acquired ownership of the Paramount brand in Australia and New Zealand and the rights to extend the brand throughout Asia. Paramount Seafoods had gross sales for the year to 31 May 2003 of around A$20m (US$13.3m).

Bumble Bee and So Natural Foods have also made a long-term strategic alliance, which provides potential for the introduction of Bumble Bee Seafoods onto the Australian and New Zealand markets.

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By GlobalData