Mitsui acquires stake in Mark Foods

The US branch of Japanese international trade giant Mitsui has acquired an undisclosed stake in Mark Foods, a seafood import and sales company that sells products to high-end retailers, distributors and restaurant groups in the US.

Marine products now represent the largest share of food imported into the US, due to increased consumption of seafood products as a result of growing health awareness in consumers.

A known marketer of premium product Chilean Sea Bass, Mark Foods also supplies lobster, octopus, crab, mussels and shrimp and other specialist seafood to retailers and food service customers across the country.

This deal will bolster Mark Foods’ position in the US, as well as create new business opportunities by leveraging Mitsui’s global seafood resources.

Mark Foods CEO Barry Markman will continue in his position and be a controlling shareholder in the company.

Markman told Seafoodsource.com: “Mark Foods looks forward to the opportunity to partner with Mitsui, given its successful history of investing in food companies and supporting those companies in their strategic growth programmes.”

“Mitsui’s global scale and existing supply of shrimp, salmon, and tuna makes it an ideal, complimentary fit for Mark Foods and its existing suppliers and customers.”

Mitsui general manager of the food business department So Maehara said: “The US seafood industry is an important market for growth as rising consumer health awareness has contributed largely to marine products today being the largest share of food imported into the US.”

“The Seafood Team at Antarctica Advisors provided Mitsui with valuable industry expertise and knowledge, which made it possible for Mitsui to consummate the alliance with Mark Foods.”