Cadman Capital Group, the family office and alternative asset investment firm, has acquired Quoddy Savour Seafood, a land-based seafood farming and processing facility, in Pennfield, New Brunswick, Eastern Canada.
The acquisition follows the announcement that Cadman has acquired a strategic equity stake in Urchinomics, the pioneering aquaculture venture that turns ecologically destructive sea urchins into highly valued seafood, which in turn helps restore and establish the world’s dwindling kelp forests, who have been running trials for Urchin ranching at the facility. Urchinomics recently secured the world’s first kelp restoration blue carbon credit, issued after a successful research project in Kunisaki and Nagato, Japan. Cadman’s involvement will allow kelp restoration to start across the Bay of Fundy and the East Coast.
It is situated on a 33 acre, permitted site next to the Bay of Fundy, part of the golden triangle of the seafood industry in North East Canada. The facility provides access to the key seafood markets of New York, Boston, Montreal and the wider North American East Coast.
The site has the capacity to raise and hold lobsters and urchins, as well as other key local fish species.
James Dinsdale, Chief Executive Officer of Cadman commented “Quoddy Savour Seafood joins the Group at an exciting time for the business. The acquisition reiterates our continued commitment to developing restorative aquaculture solutions to support the sustainable improvement of marine ecosystems. We look forward to working with the existing team, and local community and fisheries to bring income and jobs to the region.”