September 24, 2018

Ready Seafood lobster plant approved

The Saco Planning Board last week gave final approval to Ready Seafood Co. to build a lobster processing plant.

The Portland Press Herald reported that the Portland company plans to break ground Oct. 1.

Last week, Canada's Premium Brands Holding Corp. (TSX: PBH) completed its acquisition of Ready Seafood, putting the Portland-based brand under the same ownership as Hub City Fisheries and Diana Seafood. The Vancouver-based buyer had announced the deal on Sept. 5, saying the transaction would bring its seafood assets to more than $400 million Canadian ($310.28 million USD).

Premium Brands has said it will retain John and Brendan Ready as partners as well as the company's three production facilities in Maine.

According to its website, Ready Seafood buys and sells over 15 million pounds of live and processed lobster annually.


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