Food conglomerate, which owns seafood brand Seapak, has brought Minnesota-based Morey’s into the company.
In a press release, Rich Products writes that it has bought Morey’s for an undisclosed amount.
“We’ve invested in Morey’s because we see an exciting opportunity to grow our seafood business and take it to even greater heights,” said Rich Products Senior Vice President of Consumer Brands Jim Motos.
Moray’s is a major retailer of both farmed Atlantic salmon and wild (Keta or Pink) salmon, fresh, frozen and smoked. Morey’s Retail line of ready-to-cook marinated seafood is sold in Walmart, Costco and more.
The addition of Morey’s will advance Rich’s value-added seafood business and “supports the company’s goal of expanding its impact and ability to provide customers with greater offerings,” the company wrote.
“Bringing our two venerable brands together under one roof will help drive our impact in the seafood category,” Morey’s CEO Jim Walstrom said. “The combination of our seafood industry knowledge, superior products, and customer portfolio pair well with Rich’s strong reputation. Joining forces brings greater opportunity to grow our business together.”
Rich’s – which is involved in many kinds of food businesses – currently ranks number 115 on Forbes list of America’s Largest Private Companies, turns over around USD 3-4 billion a year, and acquired frozen seafood business SeaPak Corporation in 1976.