Two specialists in the sustainably-sourced frozen seafood sector are combing to create a single company.
Under the terms of the undisclosed deal, Mark Foods and Arista Industries’ seafood division will trade under the Mark Foods name.
“We are pleased to welcome Arista Seafood and its team to Mark Foods’ premier seafood sourcing and distribution platform,” said Mark Foods’ chief executive Barry Markman.
“Together, we will be a leading importer of premium seafood with more scale, a broader product offering and new expansion opportunities.”
Mark Foods was founded by Markman in 2002, whilst Arista Seafood has been trading for nearly a century, having been set up in 1930 as specialty oils importer.
The combined company hopes to see around 100 million pounds (45 million kg) of seafood, generating annual revenue of more than US$800 million. The company will continue to focus on Chilean sea bass, farm-raised and wild-caught shrimp, New Zealand mussels, lobster, pasteurised crab, Spanish octopus and other seafood products.
All employees from Arista Seafood will move to join Mark Foods, swelling its headcount to more than 50.
“With the entire Arista Seafood team joining Mark Foods, we anticipate a seamless transition for our customer and supplier partners,” said Alan Weitzer, president of Arista Industries.
“Mark Foods’ and Arista’s cultural alignment on commitment to quality, service and sustainability positions the combined company for long-term success to the benefit of our customers, suppliers and employees.”
All shareholders in Arista Industries automatically become shareholders in Mark Foods and Markman remains the controlling shareholder. Arista’s speciality oils business is not part of the transaction.
