Canada-based St. Jean’s Cannery and Smokehouse has acquired Raincoast Trading, a seafood company and the ownership is due by 1 January 2013.
St. Jean's Cannery has produced canned Raincoast's tuna and salmon for about 15 years and with this acquisition, it is expected to increase its sales to $12m to $14m over the next two or three years, reported the vancouversun.com.
The workers will be retained in Raincoast following the acquisition and with this the company will have 100 to 115 employees, said the company.
St. Jean's president Gerard St. Jean said that the company will now have right to distribute Raincoast's products across Canada and the US.
Raincoast seafood is available at natural food stores across the country, as well as at the Superstore's natural food section, and at IGA.
