RANCHO CUCAMONGA,
Calif. and CARTERET, N.J.,
Aug. 17, 2017 /PRNewswire/ --
Aquamar, Inc. ("Aquamar") and LM Foods, LLC ("LM Foods") today
announced they have combined forces to create a new platform in the
surimi seafood market, producing and selling crab flavored seafood
to food service, food manufacturing, and retail channels primarily
in North America.
Based in Rancho Cucamonga,
Calif., Aquamar was co-founded in 1991 by company president
Hugo Yamakawa, vice president of
operations Taka Iwasaki, and a former partner. Aquamar produces
both frozen and refrigerated products, most of which are sold under
the Aquamar brand name. The company is one of the leading
manufacturers of shred style surimi in North America, selling to
restaurant/foodservice customers and major retailers. Hugo and Taka
will remain as influential leaders in the business and additionally
serve on the board of directors of the new platform.
LM Foods was founded in the early 1990s and is based in
Carteret, New Jersey. LM Foods
primarily produces frozen, private label surimi seafood, offering
premium, select and value products to its customers and selling
premium products under the Classic Bay brand name. LM Foods
CEO Mark Olivito will lead the new
platform and serve on its board of directors.
"Aquamar and LM Foods have complementary capabilities that we
think will fit together nicely and serve as a growth platform
moving forward," said Olivito. "Having manufacturing facilities on
both U.S. coasts will enable us to serve our customers better and
continue to expand the combined business."
This transition secures both companies' futures by creating a
larger, thriving, growing organization that will provide greater
scale, more cost-efficient operations, and expanded sales and
distribution channels. Likewise, customers will benefit from the
company's ability to further improve quality and product innovation
while offering the most complete portfolio of products on the
market.
"As a co-founder, joining forces with LM foods is an exciting
partnership and next step for our business," said Yamakawa. "With
seafood consumption continually rising, the new platform will offer
the most innovative and wide-ranging selection of surimi seafood
products for our customers."
Together, the organizations' sell seafood products across
the United States, Canada, Mexico and Central
America under owned and licensed brands, and as a private
label manufacturer for other market participants. The company
will continue to operate their facilities in California and NJ with plans to invest
significant capital in both locations.
Huron Capital, Detroit-based
private equity firm, made an equity investment in the platform. In
partnership with Huron Capital, Iwasaki, Olivito, Yamakawa and
other members of management will be significant shareholders in the
new platform.
For more information on Aquamar and LM Foods, please visit
www.aquamar.net and www.lmfoods.com.
About Aquamar: Aquamar has decades of Surimi Seafood production
and distribution experience. Aquamar was founded on the mission of
providing the safest, highest quality product possible while
providing the best value to its customers combined with superior
service. Aquamar is an industry leader in developing proprietary
state-of-the-art production technology and operational efficiencies
that allow it to produce premium quality Surimi Seafood products.
Aquamar is committed to food safety in the production and product
storage locations. Aquamar believes in sustainable fisheries
management and participates in the Marine Stewardship Council (MSC)
certification program for our Aquamar Naturally™,
Aquamar® Classic, and Aquamar® retail branded
products.
About LM Foods: LM Foods is a manufacturer of surimi seafood
products and is located in Carteret, New
Jersey. As the only surimi processor on the East Coast and
with comprehensive and flexible production capabilities, LM Foods
is able to serve several niche markets and provide customers with a
high quality product. LM has been earning the trust of its
customers for over 20 years. LM stands for: Loyalty Matters!
Loyalty is all about building relationships. Relationships are
built on trust, which comes down to doing what you say you will do,
consistently, over the long term.
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SOURCE Aquamar, Inc.; LM Foods, LLC