Consolidated Environmental, Social, and Governance (ESG) seafood firm Blue Star Foods Corp. has reportedly acquired Taste of BC Aquafarms Inc. The Canada-based, family-owned business performs salmon farming using Recirculating Aquaculture Systems (RAS) that is implemented on land.
The Chief Executive Officer of Blue Star Foods Corp. John Keeler has apparently commented that RAS is the latest advancement in the salmon farming industry and is profitable for all stakeholders of sustainable seafood supply chain over the long term.
He further stated that the company is delighted to collaborate with the Atkinson family, who have been at the forefront of RAS farming for over ten years. Their model has immense upscaling potential and with Blue Star’s funds and sales platform, Taste of BC can strategize their next level of growth and widely promote their sashimi-graded steelhead salmon.
Keeler also added that by 2028, Blue Star Foods Corp. aims at producing around 21,000 metric tons of product. The company will provide Mr. Ben Atkinson and his team with the necessary resources to enhance their current technology and achieve these numbers.
Mr. Keeler reportedly affirmed that Taste of BC will increase the production of RAS steel-head salmon in comparison to its publicly traded competitors.
The Co-Founder and President of Taste of BC Aquafarms, Steve Atkinson, reportedly stated that the Atkinson family is excited to partner with Blue Star Foods Corp.
A decade ago, Mr. Atkinson created a RAS model that achieves reliable results and can be replicated across multiple locations. Initially, the Atkinson family, its staff, and partners helped the company achieve its goal. But now, Blue Star Foods will assist in upscaling the product rollout.
Mr. Atkinson apparently commented that the company implemented a unique approach than its peers in developing RAS for salmon production. He believes their RAS model is easily scalable and can be launched with confidence.
The acquisition deal involves a combination of equity, cash, and debt assumption.