Rich Products, the US-based food group, has expanded its seafood offering with the acquisition of Morey’s Seafood International.
“The strategic addition of Morey’s enhances Rich’s seafood offerings and positions the company for greater innovation, expanded capabilities and long-term growth,” the Buffalo, New York-based business said in a statement. Financial details were not disclosed.
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Rich Products supplies retail and foodservice channels with a range of products including bakery, pizza, snacks and cookies, as well as its SeaPak brand of frozen seafood. The company generates annual sales of more than US$4bn.
Last month, the company snapped up two bakery facilities in Minnesota and California from TreeHouse Foods, and in 2019 acquired the privately-owned Christie Cookie Company based in Nashville.
Morey’s is a well-established seafood business having been founded in 1937. It has a processing and distribution facility in Plymouth, Minnesota, and a manufacturing plant in Motley in the same state.
Jim Motos, the senior vice president for Rich Products’ consumer brands division, said: “We’ve invested in Morey’s because we see an exciting opportunity to grow our seafood business and take it to even greater heights. Adding Morey’s know-how, product portfolio and passion for high-quality, authentic fish and seafood products to our already strong seafood business puts us in a great position to deliver more for our customers and meet the changing demands of their consumers.”
Rich Products said its SeaPak label is “America’s top-selling retail brand in the frozen speciality seafood category”. Around 200 of Morey’s employees are due to join the firm.
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By GlobalData“Bringing our two venerable brands together under one roof will help drive our impact in the seafood category,” said Jim Walstrom, chief executive officer of Morey’s. “The combination of our seafood industry knowledge, superior products and customer portfolio pair well with Rich’s strong reputation. Joining forces brings greater opportunity to grow our business together.”
