Seafood Supplier Rubicon Resources Acquired For $107M

Culver City seafood supplier Rubicon Resources has been acquired by High Liner Foods Inc. in a deal valued at $107 million, Rubicon announced Wednesday.

The acquisition by the publicly-traded Canadian company is expected to be settled in 70 percent cash and 30 percent common shares. The deal’s value doesn’t include transaction fees.

Founded in 1999 by Brian Wynn, Rubicon reported annual sales of $234 million for 2016. The company supplies shrimp and fish, primarily from Southeast Asia, to major U.S. retailers including Kroger, Wal-Mart, and Sam’s Club, and it also works with restaurants and food service companies.

To read the rest of the story, please go to: Los Angeles Business Journal