Farallon Aquaculture de Nicaragua SA is a vertically integrated producer of farmed shrimp and a leading supplier of branded fresh-frozen shrimp.

Cooke acquires Nicaragua’s farmed shrimp producer

Canadian company Cooke Inc., based in New Brunswick, has acquired Farallon Aquaculture de Nicaragua SA, a vertically integrated producer of farmed shrimp and a leading supplier of branded fresh-frozen shrimp to major markets in Asia, Europe and the US.

Nicaragua Ocean Farms and Royal Shrimp receive shrimp from farms of the Farallon Aquaculture Group.

Farallon Nicaragua is headquartered in Leon, Nicaragua, employs 384 people, and operates a state-of-the-art hatchery, three farms and an onsite processing plant from four locations.

“Farallon Nicaragua is a company guided by the highest international standards in environment, health, security, and quality – all attributes shared with our existing aquaculture and wild seafood fishery divisions,” said Glenn Cooke, CEO of Cooke Inc. 

“With their long-term expertise in the shrimp market, and emphasis on continuous innovation, Farallon is well positioned to support our expansion in the shrimp market to supply high quality, sustainable seafood,” Cooke pointed out.

In February, Cooke Inc. announced its acquisition of the Seajoy Seafood Corporation group, one of the largest vertically integrated, premium shrimp farmers in Latin America. Seajoy’s organic Pacific white shrimp farms are in Honduras and Nicaragua.

Farallon Nicaragua also produces Pacific white shrimp and offers post-larvae (PL) for commercial sale.

Cooke expressed their intention to integrate the company into their Seajoy operations, which makes it possible to achieve Seajoy’s certifications for producing environmentally and socially responsible seafood from groups such as the Global Aquaculture Alliance (GAA),  Best Aquaculture Practices (4-star BAP), and Aquaculture Stewardship Council (ASC).  

“Over the last two decades we have built a recognized and respected brand and look forward to continued success as part of the Cooke family of companies,” said Jose B. Martinez, founder and owner of Farallon Nicaragua. “We believe this ownership transition will allow Farallon to realize its full potential.”

The terms of the transaction have not been disclosed as both companies are private family-owned businesses. 

Cooke Inc. is showcasing its fresh, sustainable True North Seafood Company branded products this week in Boston, MA, at Seafood Expo North America.

Related article:

- Cooke Inc. acquires Seajoy Seafood Corporation in Honduras
 
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