Mitsui & Co. (USA) and Mark Foods, Inc., both based in New York City, have formed a strategic alliance aimed at further building Mark’s customer base in the United States by utilizing Mitsui’s long-standing US food manufacturing and sales businesses and pursuing synergies with its global affiliate companies.
Established in 2002, Mark Foods is a premium, niche marine products import and sales company particularly strong in serving high-end retailers, distributors and restaurant groups in the United States. Ranking as the market’s largest supplier of MSC-certified Chilean Sea Bass, it also distributes lobster, octopus, crab, mussels, shrimp and other specialty seafood products to top tier retailer and foodservice customers nationwide.
So Maehara, general manager of Mitsui’s food business department, commented: “The United States seafood sector is an important market for growth, as rising consumer health awareness has contributed largely to marine products today being the largest share of food imported into the country.”
“We look forward to the opportunity to partner with Mitsui, given its successful history of investing in food companies and supporting those companies in their strategic growth programs,” said Barry Markman, chief executive officer and majority shareholder of Mark Foods.
Mitsui & Co. (USA) is a subsidiary of Tokyo-headquartered Mitsui & Co. Ltd, one of the largest general trading companies in Japan and publicly traded on the Tokyo Stock Exchange with $100 billion in total assets. Founded in 1947, the group owns considerable seafood resources around the world, including shrimp farming operations in Asia and salmon farming businesses in South America.
Miami, Florida-based Antarctica Advisors, an independent investment banking firm, acted as the investment banking advisor to Mitsui in the transaction.
Birgir Brynjolfsson, partner and founding member of Antarctica Advisors, remarked: “The partnership between Mitsui and Mark Foods will allow both parties to leverage their strengths for accelerated expansion in the US seafood market. Mitsui has made a strong commitment to support the growth of Mark Foods, where they have found exceptional partners in the management team and employees, who are focused on executing the long-term growth strategy.”
