Project Seafood: Going Concern Sale/Capital Raise – Aquaculture Business
LOI's Now Being Considered - Immediate Action Required
Our client (“Company”) is an established aquaculture business producing and marketing premium quality farmed fish to national grocery chains, foodservice distributors, upscale restaurants and on-line direct to consumers. The company’s product line includes raw and value-added, fresh and frozen products.
With the right capital, Company is poised for substantial growth. Its operating history delivering top quality products, raised to strict specifications, has enabled the Company to enter into an exclusive supplier arrangement with one of the nation’s top retail chains.
Moreover, Company’s online seafood direct-to-consumer platform is experiencing substantial year-over-year growth.
This is the perfect bolt-on acquisition for other aquaculture and other protein businesses and/or for investors seeking a foothold in this sector. The Company will evaluate all investment proposals, including a sale of the business.
The Company is vertically integrated, with operations from feed milling through fish production, processing, sales and distribution. The Company’s processing plant as well as its production facilities operate at the highest standards with a balance of automated efficiencies, staff experience, and hand craftmanship.
Projected Consolidated Sales Highlights
Company v. Competitors
Company is unique in its industry sector:
- Controls production from start to finish, thereby designing and producing the best-flavor as well healthiest product in the market
- Owns and operates its own feed mill, with the ability to control feed formulation to improve product quality and meet customers’ expectations
- Reputation for premium quality products and hands-on service in the category
Aquaculture Industry Highlights
NOAA Fisheries estimates that the United States imports more than 80 percent of its seafood requirements. Because harvest from wild fisheries has peaked globally, aquaculture is widely recognized as the only way to meet the seafood demands of a growing population. At the same time, the health benefits of seafood make it increasingly sought after as a dietary protein source. As a result, aquaculture is the fastest growing form of food production in the world.
The current estimated value of imported farmed seafood sold annually in the US is $10 Billion and growing each year. The following is a glance at the production and sales figures of the top U.S. farm-raised fish according to the USDA 2013 Census:
|SPECIES||LBS. PRODUCED||ESTIMATED SALES|
|Catfish||368.0 million pounds||$ 375.9 million|
|Trout||59.1 million pounds||$ 110.2 million|
|Bass||12.7 million pounds||$ 50.8 million|
|Tilapia||18.6 million pounds||$ 42.5 million|
|Crawfish||34.0 million pounds||$ 34.6 million|
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