SAINT JOHN– Cooke Inc., the parent company of Cooke Aquaculture, announced Tuesday that it has acquired Omega Protein Corporation, a nutritional product company known for its specialty oils and specialty protein products.
Under terms of the transaction, Cooke has acquired all outstanding shares of Omega Protein for $22 per share in cash, or a total value of approximately $500 million (U.S.).
“The acquisition of Omega Protein will help further diversify the supply side of our business and supports our strategy of responsible growth as a leader in seafood production,” said Glenn Cooke, CEO of Cooke Inc, in a release.
“We are bringing together two innovative fishery teams with a passion for delivering superior products, service, and value to our customers in a safe and environmentally sustainable manner.”
Omega Protein operates seven manufacturing facilities located in the United States, Canada and Europe. Prior to the closing of the acquisition, the company operated more than 30 vessels to harvest menhaden, a fish abundantly found in the Atlantic Ocean and Gulf of Mexico. Going forward, these vessels will be operated by Alpha VesselCo Holdings, Inc.
“With over 1,000 employees and a purchase price of $500 Million USD, Omega Protein is the largest acquisition in the 32-year history of Cooke”, said Cooke.
“We started our family-operated company in 1985 and through the hard work of our employees have grown to become a fully integrated global seafood leader offering a wide array of farmed and wild-caught products to customers around the world.”