Athens, Greece – Cooke Inc. (“Cooke”) announces that it has executed a memorandum of understanding under which Cooke will acquire from the lenders thereof the existing debt facilities of Avramar Aquaculture S.A., Andromeda S.A., Perseus S.A. and Avramar Commercial and Logistics S.A. (collectively, “Avramar Greece”), a leading marine aquaculture producer of sea bass and seabream in Greece. Together with Cooke’s existing agreement to acquire the equity of Avramar Greece, upon closing, Cooke will acquire operational control of Avramar Greece.
The original companies comprising the Avramar Greece group were established in 1981, and the company has grown to become a leader in Mediterranean aquaculture. It is a vertically integrated operation, which includes hatcheries, marine farm sites, processing and packaging facilities, and feed production operations. The company’s sustainability certifications are recognized by the Global Sustainable Seafood Initiative (GSSA) and Global Food Safety Initiative (GFSI).
The acquisition is subject to definitive documentation and customary closing conditions and is expected to close at the earliest opportunity.
About the Cooke Family of Companies
Cooke Aquaculture Inc. was established in 1985 by the Cooke family in New Brunswick, Canada. From humble beginnings of one farm site and 5,000 salmon, Cooke Inc. is the largest private family-owned seafood company in the world employing 13,000 people worldwide. The Cooke family of companies operate global aquaculture and wild fishery divisions in 15 countries providing a sustainable seafood source reaching tables all over the world. Cooke’s core purpose is to ‘cultivate the ocean with care, nourish the world, provide for our families, and build stronger communities.