• December 2011— press release
High Liner Foods Completes Acquisition of Icelandic Group's U.S. and Asian Operations
Acquisition Results in High Liner Foods Becoming the Leading Value-Added Seafood Supplier in North America
Lunenburg, Nova Scotia, December 19, 2011 (Canada NewsWire via COMTEX)—High Liner Foods Incorporated (TSX: HLF; HLF.A), a leading North American value-added frozen seafood company, today announced that it has completed the acquisition of Icelandic Group's U.S. and Asian operations, previously announced on November 17, 2011. The adjusted purchase price was US$232.7 million, which includes US$2.0 million in closing adjustments. In addition, working capital adjustments net of cash balances were US$15.2 million, reflecting the seasonally high working capital levels at the time of the closing of the transaction.
"We are very pleased to have completed this acquisition, as it represents an important element of High Liner Foods' growth strategy. This acquisition positions High Liner as the leading value-added seafood supplier in North America, and adds incremental value to our shareholders," said Henry Demone, President and CEO of High Liner Foods.
For the 12 months ending September 2011, Icelandic Group's U.S. and Asian operations recorded sales of US$268 million and pro forma adjusted earnings before interest, taxes, depreciation and amortization (pro forma Adjusted EBITDA) of approximately US$29 million, after taking into account the full year of savings from the investment in a new cold storage facility that opened in 2011.
High Liner expects the acquisition to be immediately accretive to earnings per share before one-time costs related to the acquisition. On a pro forma basis, High Liner's annual revenue would be approximately $900 million for the 12 months ending September 2011, with pro forma Adjusted EBITDA of approximately $94 million including near-term synergies. Total ongoing annual synergies are expected to be in the range of US$16–18 million.
The transaction, paid in cash, was financed with new long-term debt and an increase in High Liner's existing asset-based revolving loan facility from US$120 million to US$180 million. The long-term debt is a US$250 million senior secured term loan with a six-year term that pays interest at 5.50% plus LIBOR (floor of 1.5%). A portion of the proceeds was also used to repay existing long-term debt. Upon closing, High Liner has drawn the full US$250 million senior secured term loan and approximately US$126 million of its revolving loan facility, leaving additional borrowing availability under its revolving loan facility of approximately US$48 million based on current margin calculations.
RBC Capital Markets and BMO Capital Markets acted as Joint Lead Arrangers andJoint Bookrunnerson High Liner's new senior secured term loan.
About High Liner Foods Incorporated
High Liner Foods Incorporated is a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner(®), Fisher Boy(®), Mirabel(®), Sea CuisineTM and Royal Sea(®) labels, and are available in most grocery and club stores. The Company also sells its High Liner(®), FPI(®), Mirabel(®), VikingTM, Icelandic Seafood(®), Samband of Iceland(®), Seastar(®), and Seaside(®) food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company, trading under the symbols HLF and HLF.A on the Toronto Stock Exchange.
The Company reports its financial results in accordance with IFRS. Included in this media release is a non-IFRS financial measure, Adjusted EBITDA, as a supplemental indicator of operating performance.
The Company believes this non-IFRS financial measure provides useful information to both management and investors in measuring the financial performance and financial condition of the Company. This measure does not have a standardized meaning prescribed by IFRS and, therefore, may not be comparable to similarly titled measures presented by other publicly traded companies, nor should it be construed as an alternative to other financial measures determined in accordance with IFRS.
For further information about the Company, please visit our website at www.highlinerfoods.com or send an e-mail to investor@highlinerfoods.com
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2011/19/c8019.html
This document contains forward-looking statements. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Specific forward-looking statements in this document include, but are not limited to expectations with respect to: becoming the leading value-added seafood company in North America; increasing value to shareholders; achieving synergies of $16 to $18 million and the timing of any synergies; continuing to realize savings on the cold storage facility; and the acquisition being immediately accretive to earnings per share. These statements are based on a number of factors and assumptions including, but not limited to: our ability to integrate the acquisition into our operations; achieving the expected synergies and supply chain efficiencies; our ability to effectively utilize enhanced product lines, product development capabilities and economies of scale leading to increased shareholder value and, acceptance of new products in the marketplace. The statements are not a guarantee of future performance. By their nature, forward-looking statements involve uncertainties and risks that the forecasts and targets will not be achieved. Readers are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially from those expressed in such forward-looking statements. We include in publicly available documents filed from time to time with securities commissions and the Toronto Stock Exchange, a discussion of the risk factors that can cause anticipated outcomes to differ from actual outcomes. Except as required under applicable securities legislation, we do not undertake to update forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, whether as a result of new information, future events or otherwise.
• November 2011— press release
High Liner Foods Reaches Agreement to Acquire Icelandic Group's U.S. and Asian Operations
Acquisition Results in High Liner Foods Becoming the Leading Value-Added Seafood Supplier in North America
Lunenburg, Nova Scotia, November 17, 2011—High Liner Foods Incorporated (TSX: HLF; HLF.A), a leading North American value-added frozen seafood company, today announced that it has reached an agreement to acquire the U.S. subsidiary ("Icelandic USA") and Asian procurement operations of Icelandic Group h.f., one of the largest suppliers of value-added seafood to the U.S. food service market. The transaction is valued at approximately US$230.6 million. Completion of the transaction, which is subject to customary closing conditions, including regulatory approvals, is expected in late 2011 or during the first quarter of 2012.
"We are very pleased to have reached this agreement, which will make High Liner Foods the leading value-added seafood supplier in North America," said Henry Demone, President and CEO of High Liner Foods. "Icelandic USA is an established leader in the U.S. food service market and is managed by an outstanding team. The operation will be a good fit with High Liner's U.S. operations and allow us to address a larger, consolidated customer base through stronger purchasing power. The combination provides High Liner a more efficient supply chain with stronger product development capabilities. The transaction is expected to strengthen our industry leadership position and create incremental value for our shareholders."
The acquisition includes Icelandic USA's processing plant in Newport News, Virginia, as well as subsidiaries that operate a processing plant in China and procure product from other Asian countries. High Liner is acquiring several brands in connection with the acquisition. In addition, High Liner has agreed to a seven-year royalty-free licensing agreement with Icelandic Group for the use of the Icelandic Seafood™ brand in the United States, Canada, and Mexico. High Liner has also structured a long-term distribution agreement with Icelandic Group that will ensure that producers in Iceland will continue to have the same access to the U.S. market as they do today and that High Liner will continue to be able to supply its customers with high-quality fillets from Iceland under the Icelandic Seafood™ brand.
"We look forward to building a long-term working relationship with Icelandic Group and the Icelandic seafood suppliers that benefits both our respective operations and stakeholders," added Mr. Demone.
Icelandic USA has a long history of providing high-quality seafood in popular forms, such as battered and breaded products as well as a full line of premium fillets. For the last 12 months ending September 2011, Icelandic Group's U.S. and Asian operations recorded sales of US$268 million and pro forma adjusted earnings before interest, taxes, depreciation and amortization (pro forma Adjusted EBITDA) of approximately US$29 million, after taking into account the full year of savings from the investment in a new cold storage facility at Icelandic USA's plant that opened in 2011.
About High Liner Foods Incorporated
High Liner Foods Incorporated is a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel®, Sea Cuisine™ and Royal Sea® labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI®, Mirabel®, and Viking™ food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company, trading under the symbols HLF and HLF.A on the Toronto Stock Exchange.
About Icelandic Group h.f.
Icelandic Group is an international company, based in Reykjavik, Iceland, with a rich history that spans 70 years in Icelandic Fisheries. It has grown and strengthened throughout the years and is now a network of independent manufacturers and marketing companies, each operating in its own market in America, Europe and Asia.
• October 2011— press release
Fishery Products International Embraces More Sustainable Packaging
Leading broad line seafood company now using 100 percent recyclable "kraft" cartons
Danvers, MA., October 13, 2011—Fishery Products International, the leading US broad line foodservice seafood provider, today announced that it has converted its corrugated case masters to “kraft” sustainable packaging made from 100% recycled fibers.
As part of FPI's commitment to conducting business sustainably, the company has completely converted its packaging for U.S.-produced items, and is in the process of completing the conversion for items produced overseas.
Jim LaBelle, FPI's vice president of marketing, noted that the transition to more sustainable packaging is in keeping with FPI's new positioning of We Sea What's Next™, which was recently introduced along with FPI's newly designed website.
"As an industry leader, we can play a major role in moving the seafood category towards a more sustainable future," LaBelle said. "This packaging transition underscores FPI's commitment to sustainability, whether it be the sourcing of raw materials or the sustainability of our packaging."
The transition from traditional "white" paper packaging to the new kraft master cartons ensures that FPI's packaging is made of 100 percent recycled fibers that have been sorted and processed to remove any contaminants or metals.
In addition, the pre-printed signature combination of FPI's traditional logo and the accompanying blue banner have been printed using water-based, metal-free inks. The new materials do not change the structural integrity of the packaging.
The new sustainable packaging is produced through a partnership of three companies based in Nova Scotia: Maritime Paper Products Ltd., a manufacturer of sustainable packaging; Scotia Recycling, which reclaims used cartons and recycles them; Minas Basin, a paper mill that through a re-pulping process makes 100 percent recycled linerboard.
The new FPI packaging carries the Eco-Advance Certification logo, indicating that the packaging is made from 100 percent recyclable materials.
FPI is a division of High Liner Foods (USA) Inc. For more information about High Liner's sustainability efforts, visit www.highlinersustainability.com
For more information about FPI, visit www.fisheryproducts.com
About Fishery Products International
Fishery Products International, (FPI), is a leading provider of quality seafood in the foodservice market, offering an exceptionally broad portfolio of on-trend and in-demand seafood solutions to America's largest restaurant chains, national distributors and regional specialists. Fishery Products International is a division of High Liner Foods (USA), Inc., the U.S. subsidiary of High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel® and Sea Cuisine™ labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI®, Mirabel®, and Viking™ food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company. Its common shares trade under the symbol HLF and its Non-Voting Equity Shares trade under the symbol HLF.A on the Toronto Stock Exchange. For more information about FPI, please visit www.fisheryproducts.com
• September 2011— press release
Fishery Products International Expands Ground-Breaking FireRoasters™ Line
Two new Alaska Pollock items ideal for military, health care foodservice operations
Danvers, MA., September 19, 2011—Fishery Products International, the leading US broad line foodservice seafood provider, today announced that it has expanded its ground-breaking FireRoasters™ line of flame-seared fillets to include two new Alaska Pollock versions featuring highly popular flavor profiles.
The new FireRoasters™ items are:
- Citrus Peppercorn Alaska Pollock Fillets: Made with fresh lemon, cracked peppercorn and roasted garlic for a contemporary twist on a mainstream flavor profile.
- Southwest Style Alaska Pollock Fillets: Featuring a blend of chili peppers, ginger, onion, garlic and chopped cilantro for an impactful Southwest-influenced taste.
These two new FireRoasters™ Alaska Pollock products are available in 4 oz servings to provide operators with more cost-effective portion control options in the line-up. They also have a number of important nutritional benefits: both items are lower in sodium than typical prepared seafood alternatives (410 milligrams for the Citrus Peppercorn fillets and 370 mg for the Southwest fillets) and both products also provide Omega-3 benefits.
"These two new FireRoasters™ items offer an unbeatable combination of unique flavor, nutritional benefits, and cost effectiveness, making them an excellent fit for all foodservice operations, especially health care facilities and the appropriated and non-appropriated segments of the US Military," said Jim LaBelle, Vice President of Marketing for FPI. The Alaska Pollock used in these items is domestically sourced and processed which is a requirement for military troop feeding.
FireRoasters™ is a line of fully-prepared, thick-cut salmon, tilapia, pollock and cod fillets that have been flame-roasted and seasoned to perfection through FPI's unique process. FireRoasters allows operators to serve profitable, on-trend flavor profiles that eliminate the high cost and complexity of preparing fire-roasted seafood from scratch. Launched in late 2010, the line includes the following flavors: Smoky Applewood Salmon, Asian Barbecue Salmon, Thai Basil Tilapia, Citrus Peppercorn Tilapia, Rustic Italian Cod, and Southwest Style Cod.
For more product information and to order, visit www.fisheryproducts.com, or call 800-374-4770.
About Fishery Products International
Fishery Products International, (FPI), is a leading provider of quality seafood in the foodservice market, offering an exceptionally broad portfolio of on-trend and in-demand seafood solutions to America's largest restaurant chains, national distributors and regional specialists. Fishery Products International is a division of High Liner Foods (USA), Inc., the U.S. subsidiary of High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel® and Sea Cuisine™ labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI®, Mirabel®, and Viking™ food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company. Its common shares trade under the symbol HLF and its Non-Voting Equity Shares trade under the symbol HLF.A on the Toronto Stock Exchange. For more information about FPI, please visit www.fisheryproducts.com
• August 2011— press release
Fishery Products International Expands Marketing Team
Addition of two senior marketing staff members to help lead marketing programs
Danvers, MA., Aug. 31, 2011—Fishery Products International Inc., a leading broadline seafood provider, today announced that it has added two senior staff members to its marketing team to lead and drive key marketing initiatives.
FPI, which is a division of High Liner Foods (USA) Inc., announced the following appointments:
Amy Amenta was appointed Senior Marketing Manager. A 14-year marketing professional, Amenta worked for 11 years in various marketing management roles for an athletic footware company. She also spent three years providing freelance marketing program services to small businesses. Amenta will create overall custom account channel strategies and priorities, execute and lead key channel initiatives and provide other support for FPI's portfolio of products and services to profitably satisfy FPI's top chain customers.
Kristen Bouchie was appointed Foodservice Marketing Manager. Bouchie will direct and execute programs to support growth in FPI's branded foodservice value-added business. Among Bouchie's responsibilities are day-to-day support of the regional sales managers and their associated broker network, channel/segment marketing planning and ongoing product pricing and promotional activities. Before joining the FPI team, Bouchie was the Associate Brand Manager for the Retail Division of High Liner Foods (USA) Inc.
"At FPI, we are continually focused on seeing what's next and bringing cutting-edge innovations to the market in ways that create exceptional value for our customers," said Jim LaBelle, FPI's Vice President of Marketing. "These two talented and experienced marketing professionals will play a key role in helping us continue to communicate all of the unique benefits we provide to our customers."
About Fishery Products International
Fishery Products International, (FPI), is a leading provider of quality seafood in the foodservice market, offering an exceptionally broad portfolio of on-trend and in-demand seafood solutions to America's largest restaurant chains, national distributors and regional specialists. Fishery Products International is a division of High Liner Foods (USA), Inc., the U.S. subsidiary of High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel® and Sea Cuisine™ labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI®, Mirabel®, and Viking™ food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company. Its common shares trade under the symbol HLF and its Non-Voting Equity Shares trade under the symbol HLF.A on the Toronto Stock Exchange. For more information about FPI, please visit www.fisheryproducts.com
• July 2011— article
Information Accuracy: The Key to Keeping Seafood
Sustainability Efforts on Track
Bill DiMento
Corporate Director of Sustainability
High Liner Foods Inc.
July 17, 2011—Winston Churchill once said, "However beautiful the strategy, you should occasionally look at the results."
That quote seems especially relevant to those of us who have started down this sustainable business path, where we've taken upon ourselves a responsibility to prove to customers and consumers that we're making good on our commitments.
Information accuracy is vital to every company pursuing any kind of sustainability endeavor, whether it be cutting back on packaging waste, lowering energy use or reducing carbon emissions.
Specifically in the seafood industry, companies that are committed to purchasing seafood sustainably are exploring the most effective traceability methods available to be certain they are on the right path.
Those companies that take steps to make sure there are no weak links as information is collected and shared between each participant in the supply chain, verifying that no illegally caught or unsafe seafood makes its way to the customers, will be best positioned to succeed. Companies need to be able to enhance the traceability systems they already have, otherwise they can outsource this aspect of their business using third party traceability systems.
First and foremost, traceability is about ensuring food safety. But it's also of critical importance when it comes to sustainability.
WalMart has taken a leadership position that includes only using valid, sound, scientific data to verify that the products seafood producers sell them come from sustainable sources, and nongovernmental organizations are working to convince other companies to follow suit.
Using the most advanced traceability technologies available, processors can provide to their customers product-specific data, including what has been sold over a specific period of time, what the source fishery or aquaculture facility is, the Latin species name, and the "gear type," or method in which the fish was sourced.
Achieving this level of transparency and accuracy of data is a major undertaking, and will likely be the puzzle that keeps many company heads of sustainability awake at night.
This March, the National Fisheries Institute and GS1 US released an implementation guide for seafood traceability, which outlines best practices for tracking seafood as it is delivered through the supply chain, from the ocean to the plate.
Among these recommendations were five business processes that should be implemented to ensure effective seafood traceability:
- Plan and organize how to assign, collect, share and maintain traceability information;
- Determine a system to align master data – that data essential to your core business—which is required for all products and participants in the supply chain;
- Record traceability information as products are created and shipped, along with critical tracking events;
- Request a trace of at least one of several information sources, which include a unique product identifier, a Global Location Number (GLN) which might indicate the specific vessel or aquaculture farm, dates or time periods for each product, and the lot number;
- Use the information to take appropriate action.
As many seafood producers have found, implementing these business processes in a way that allows you to accurately trace items both "forward and backward" along the supply chain is a major challenge.
This is because of the nature of the seafood supply chain itself, which has multiple players who play primary roles, including the vessels or aquaculture farms, brokers, processors, retail stores, distributors, wholesalers, and retail or foodservice operators. There are also those in supporting roles, such as logistics service providers who handle transportation and storage.
In addition, there are two levels of traceability: internal traceability systems allow a company to track products within its own business, while external traceability systems track a product outside of the business, usually requiring a level of information-sharing that is more complex and therefore prone to error.
As the NFI-GS1 guide notes, traceability processes "are only as good as their weakest link."
To that end, we have found that a sustainable seafood traceability process that ensures full transparency to customers involves the following measures:
- First and foremost, going "upstream" along the supply chain all the way to the source and verifying that the information you're receiving, such as the fishery type and the gear type, is 100 percent accurate. "One up, one back" food safety doesn't always provide the complete picture. Typical product recall systems don't provide the level of detail back to the source to validate that the products have come from a sustainable resource;
- Making sure that the information from the supplier is translated accurately internally. In other words, that you're using consistent documentation methods to allow informationsharing to be more accurate;
- Developing a traceability system that eliminates multiple individuals from having to enter the same information into the system. This will reduce the chance for error;
- Adding value for your customers by using your traceability information to help customers make intelligent decisions about the products they are buying.
It's clear that organizations undertaking sustainable product traceability face enormous challenges. It takes a commitment from top to bottom, continuous engagement with suppliers to ensure information is valid, and perhaps most importantly, a willingness to learn from mistakes to strengthen your methods of tracing products.
All responsible food businesses today maintain traceability information from a food safety perspective, but they need to enhance this information internally, bringing it to the next level, allowing them to provide full traceability back to source information in a timely manner. Those companies that do this most effectively will absolutely give themselves a competitive advantage.
Bill DiMento is Corporate Director of Sustainability at High Liner Foods, Inc., a leading North American processor and marketer of superior quality seafood. He oversees all of High Liner Foods' corporate-level sustainability initiatives, ensuring the company is reducing its overall environmental footprint and complying with the strictest standards of seafood procurement. DiMento is a professional member of the Institute of Food Technologies, U.S. Representative to CODEX, and has been past chairman of the NFI Technical Committee. DiMento has been named to the Board of Directors for the International Association of Fish Inspectors and the Atlantic Fisheries Technology Conference. High Liner has developed customer- and product-specific "sustainability report cards" that will be delivered to customers to help them make informed choices as to which products are sourced sustainably or where they are in the process of
achieving certification.
view original article here.
• June 2011— press release
Fishery Products International Expands Sales Team
Leading foodservice supplier adds three personnel to key leadership roles
to help grow channel sales.
Danvers, MA., June 1, 2011 —Fishery Products International Inc., a leading broadline seafood provider, today announced that it has further strengthened its foodservice sales team to develop and drive profitable growth in key sales channels.
FPI, a division of High Liner Foods (USA) Inc., announced the following appointments:
Suzanne Flynn was hired as Manager of Non-commercial Business. A 19-year sales veteran in the food and beverage industry, Flynn previously held the position of Director of Contract Accounts for Advance Food Co. In her new role, Flynn is responsible for developing and driving sales through FPI's contract management channels, which comprise FPI's non-commercial segments: colleges and universities, hospital, extended care, nursing homes, and business and industry.
Cheryl Heinz was hired as Midwest Regional Sales Manager. Heinz will be responsible for further strengthening relationships with customers, managing and developing all foodservice selling agencies, executing zone strategic plans with regional brokers, developing and executing sales plans to achieve distributor and operator sales, managing channel sales through regional brokers and managing distributor marketing plans. Heinz is a 15-year veteran of the food sales industry, and was previously Midwest Regional Sales Manager at Ocean Beauty Seafoods LLC.
Steve Davidson was hired as Western Regional Sales Manager. Davidson, who has 22 years of experience in food sales and distribution, will have similar responsibilities as Heinz while leading FPI's sales operations in the western region. Prior to joining FPI, Davidson was a Regional Manager at Trident Seafoods Corp. He has also held positions with Clearwater Seafoods Ltd., and Ore-Cal Corp.
"With the recent launch of FPI's FireRoasters™ line of flame-seared fillets and the acquisition of Viking Seafoods Inc., it's crucial that we have the right sales organization in place to help grow sales throughout our branded portfolio," said Steve Prusank, FPI's vice president of sales. "These three dynamic individuals will play important roles in helping FPI continue to deliver exceptional value to our customers."
About Fishery Products International
Fishery Products International, (FPI), is a leading provider of quality seafood in the foodservice market, offering an exceptionally broad portfolio of on-trend and in-demand seafood solutions to America's largest restaurant chains, national distributors and regional specialists. Fishery Products International is a division of High Liner Foods (USA), Inc., the U.S. subsidiary of High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel® and Sea Cuisine™ labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI®, Mirabel®, and Viking™ food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company. Its common shares trade under the symbol HLF and its Non-Voting Equity Shares trade under the symbol HLF.A on the Toronto Stock Exchange. For more information about FPI, please visit www.fisheryproducts.com
• April 2011— press release
Fishery Products International Names Winners of FireRoasters™ Recipe Challenge
FPI's national broker network competed for top recipes accompanying six FireRoasters flavor profiles.
Danvers, MA., April 11, 2011—Fishery Productions International, a leading broadline seafood provider, today announced the six winners of its 2011 Fire Up Your Menu Recipe Challenge, a competition among the company's broker network to create recipes complementing FPI's new innovative FireRoasters™ line of flame-seared fillets.
FPI's culinary staff received hundreds of recipe submissions from chefs in the company's national broker network, and one winner was chosen for each of the six flavor profiles in the groundbreaking FireRoasters line of roasted cod, tilapia and salmon fillets.
The recipe challenge winners are:
- Smoky Applewood Salmon: Scott Krimmer of M.V.P. Wisconsin
- Applewood Seared Salmon with Barbequed Pasta
- Asian Barbecue Salmon: Lawrence Parks of Venture CDC Sales Group
- Banana Leaf Steamed Barbeque Salmon
- Rustic Italian Cod: Culinary team, M.V.P. Ohio
- Rustic Tuscan Cod Stews
- Southwest Style Cod: Scott Becthold of Dougherty Brokerage Co. of Iowa
- Southwest Cod Loin Ceviche with Avocados Mexicano
- Citrus Peppercorn Tilapia: Steve Hermosura of Market Access
- Saigon Tilapia Sub (Bahn Mi Ca)
- Thai Basil Tilapia: David Carey of Venture CDC Sales Group
- Spicy Thai Fish Potage
"We received many outstanding recipe submissions to complement the unique and innovative flavor profiles of the FireRoasters line, which offers a deliciously seasoned, flame-seared seafood option to foodservice operators," said Chef Owen Tilley, FPI's executive chef. "These recipes will be used by FPI's brokers as part of a recipe guide as they offer bundled product lines to operators and distributors."
The recipes are also available as a downloadable brochure on FPI's website.
Each recipe was judged on creativity, marketability, use of other represented brands and products, and overall presentation appeal. Each recipe winner will receive a handpicked selection of culinary tools, plating utensils, and Global® brand cutlery, personally selected by Chef Tilley.
FireRoasters is a full line of fully-prepared, thick-cut salmon, tilapia and cod fillets that have been flame-roasted and seasoned to perfection through FPI's unique process, offering operators a profitable, highly popular flavor profile that eliminates the high cost and complexity of preparing fire-roasted seafood from scratch.
For more information and to order, visit www.fisheryproducts.com, or call 800-374-4770.
About Fishery Products International
Fishery Products International, (FPI), is a leading provider of quality seafood in the foodservice market, offering an exceptionally broad portfolio of on-trend and in-demand seafood solutions to America's largest restaurant chains, national distributors and regional specialists. Fishery Products International is a division of High Liner Foods (USA), Inc., the U.S. subsidiary of High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel® and Sea Cuisine™ labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI® and Mirabel® food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company. Its common shares trade under the symbol HLF and its Non-Voting Equity Shares trade under the symbol HLF.A on the Toronto Stock Exchange. For more information about FPI, please visit www.fisheryproducts.com
• February 2011— press release
Fishery Products International Announces Ground-Breaking FireRoasters™ Flame Seared
Next generation of innovation from FPI includes uniquely-seasoned flavors, offering operators profitable roasted seafood options
Danvers, MA., Feb. 9, 2011—Fishery Products International Inc., a leading broadline seafood provider, today announced the launch of FireRoasters, a ground-breaking line of flame-seared fillets that offer a sophisticated seafood option to foodservice operators lacking the resources to prepare roasted seafood from scratch.
FireRoasters is a full line of fully-prepared, thick-cut salmon, tilapia and cod fillets that have been flame-roasted and seasoned to perfection through FPI's unique process, offering operators a profitable, highly popular flavor profile that eliminates the high cost and complexity of preparing fire-roasted seafood from scratch.
FireRoasters is ideal for all types of restaurants, hotels, employee feeding, catering operations and colleges and universities. Items can be put on a lunch or dinner menu at premium prices.
"We're excited to again break new ground in the foodservice marketplace with the launch of FireRoasters, which is ideal for operations that lack the equipment and culinary expertise to menu great-tasting, fire-roasted fish," said Keith A. Decker, president and chief operating officer of High Liner Foods (USA) Inc., the parent company of FPI. "Flame-seared seafood has tremendous potential and commands premium menu prices."
A 2009 nationwide survey commissioned by the National Restaurant Association found that more than half of chefs nationwide consider roasting to be a perennial favorite in restaurants.
FireRoasters is available in the following six flavors:
- Smoky Applewood Salmon: Basted with a blend of herbs and spices for a backwoods flavor profile. Hints of applewood, brown sugar, bacon, mustard, and marjoram provide a savory experience;
- Asian Barbecue Salmon: Seasoned with an authentic Asian barbecue recipe that balances the heat of chili peppers with the sweetness of pineapple and honey. Hints of Chinese five spice, sesame and soy give it a true Eastern flair;
- Thai Basil Tilapia: A fusion of authentic Thai ingredients, including fresh basil, curry, Thai chili peppers and coconut milk, coat this fillet for a unique Asian taste;
- Citrus Peppercorn Tilapia: A big splash of fresh lemon with an edge of cracked peppercorn and roasted garlic give a contemporary twist to a mainstream popular flavor profile;
- Southwest Style Cod: Wrapped in a blend of Southwest chili peppers, ginger, onion, garlic and chopped cilantro for an unforgettable seafood experience;
- Rustic Italian Cod: The popular flavors of Tuscany come together in a savory glaze atop this loin with hints of rosemary, garlic, cracked pepper, lemon, fennel and red bell peppers for an authentic Italian flavor.
These unique flavors are used on thick premium cuts of natural fish for great plate and appetite appeal, including cod loins, salmon center cuts, and an innovative folded tilapia fillet that is ideal for oven roasting.
Each item offers a variety of health benefits, including no trans fats, low sodium content, and the salmon and cod products are rich in Omega-3 fatty acids.
All FireRoasters flavors are individually quick frozen, and can be baked, broiled, flat-grilled, steamed or microwaved in just minutes.
FireRoasters products are available in 10-pound foodservice bulk packs. Through April 30, FPI is offering a $25 per-case rebate on purchases of FireRoasters.
For more information and to order, visit www.fisheryproducts.com, or call 800-374-4770.
About Fishery Products International
Fishery Products International, (FPI), is a leading provider of quality seafood in the foodservice market, offering an exceptionally broad portfolio of on-trend and in-demand seafood solutions to America's largest restaurant chains, national distributors and regional specialists. Fishery Products International is a division of High Liner Foods (USA), Inc., the U.S. subsidiary of High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner®, Fisher Boy®, Mirabel® and Sea Cuisine™ labels, and are available in most grocery and club stores. The Company also sells its High Liner®, FPI® and Mirabel® food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company. Its common shares trade under the symbol HLF and its Non-Voting Equity Shares trade under the symbol HLF.A on the Toronto Stock Exchange. For more information about FPI, please visit www.fisheryproducts.com