US seafood importer and distributor Sea Delight has netted seafood brands previously owned by local crab importer and wholesaler Bonamar.
Earlier this year, Bonamar was sued by Santander, with the bank claiming the company was no longer complying with the terms of a US$25m loan. A deal was reached for a a restructuring specialist focused on dealing with distressed firms to take control and liquidate Bonamar’s assets.
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Sea Delight has acquired what it called the “intellectual property relating to Bonamar Corporation”. For undisclosed terms, Sea Delight has bought Bonamar’s brands and trademarks including the Sebastian brand and “other top seafood brands”.
“The goal of this intellectual property acquisition is to make Sea Delight a major player in the crab category as it will now offer one of the most diverse offerings of crab globally under one of the most recognisable seafood brands in the industry,” Sea Delight senior vice president Cesar Bencosme said.
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By GlobalData
