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Weekly Overview: Icicle Seafoods Sold to Indonesian Investors

30 June 2015

ANALYSIS - In this week's news, Indonesia's Convergence Holdings and Dominion Catchers have entered into an agreement to buy North American seafood company Icicle Seafoods.

As part of the agreement, Convergence, which was established by the Soetantyo family, will acquire Icicle's land-based wild seafood processing and farmed salmon activities, and Dominion will acquire the company's harvesting and processing vessels as well as the associated fishing rights.

"We are pleased about this announcement, under which Icicle will move forward with long-term owners who firmly share Icicle's commitment to quality and sustainability," said Chris Ruettgers, Chief Executive Officer of Icicle.

"Convergence and its affiliates have extensive industry experience that will allow for continued investment in Icicle's business."

In other news, Russia announced last week that it will be extending its ban on imports of agricultural products, including fish, from the EU and US until 5 August 2016.

Russian Prime Minister, Dmitry Medvedev, stated: "We took these decisions a year ago and are extending them in response to recent decisions of the European Union and a number of other states.

In disease news, an outbreak of Infectious Salmon Anaemia (ISA) variant HPR 14 has been confirmed on a Marine Harvest salmon farm in the Los Lagos region of Chile.

The National Fisheries and Aquaculture Service (Sernapesca) is now monitoring farms within the surveillance zone.


Lucy Towers

Lucy Towers
News Team - Editor

After graduating from The University of Sheffield, Lucy joined 5M in 2011 as part of the News Desk team. In 2012, she was promoted to editor of TheFishSite. With previous farming experience and a love for the great outdoors, Lucy has a passion for wildlife and the environment.

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