Acting on behalf of Seafood Sales & Service, Inc. (“Seafood Sales”) and its shareholders of Jacksonville, Florida, USA, Benchmark International successfully facilitated the sale of the majority stake in Seafood Sales to Eastern Poultry and Food Distributors (“Eastern”).
The two companies formed Eastern Seafood Distributors LLC (www.seafoodsalesjax.com), with minority partners including the co-founder of Seafood Sales, David Bielski, and Palmetto Capital, a private equity group based in Ponte Vedra Beach, Florida.
Seafood Sales, founded in 2000, is a global importer and exporter of frozen seafood. The Company offers quality products to many clients including high-end restaurants, markets, and grocery stores throughout North America. Seafood Sales will continue to distribute products to food service and retail accounts throughout the Southeast, United States.
Eastern (www.epoultry.com) distributes poultry, beef, seafood, pork, and various other food products. The acquisition will expand Eastern’s seafood division and allow Seafood Sales’ clients to widen their existing product offerings.
Both Eastern and Seafood Sales note that the shared values were very important to both parties and their partnership for the future.
Kendall Stafford, Benchmark International Deal Lead Director, stated, “We enjoyed working with the father/son team at Seafood Sales and we were particularly thankful that the acquirer was a family owned and operated company that shared the same family values as Seafood Sales. The acquisition was a great opportunity for the acquirer to expand their operations and allow Seafood Sales to gain a stronger foothold within the seafood distribution market.”
Everyone at Benchmark International would like to thank both parties and wish them the very best of success going forward.
