Riverence Holdings, a US-based land-based producer of steelhead and rainbow trout, has acquired Clear Springs Foods, a rainbow trout producer based in Idaho, for an undisclosed price, as per the latest food acquisition news.
The acquisition is said to make Riverence Holdings the largest land-based producer of trout in the Americas. The company’s family of businesses now includes Washington-based Riverence Brood, Idaho-based Riverence Farms, and Clear Springs Foods, which operates from Idaho’s Magic Valley.
Commenting on Riverence acquisition of Clear Springs Foods, Rob Young – CEO of Riverence said: “We believe in aquaculture and sustainable, land-based production of seafood.
“With this investment, we are deepening our commitment to doing what’s right in support of our communities, the fish we produce, and the natural resources we share. Together, we stand ready to redefine farm-raised fish and the future of American aquaculture.”
The Magic Valley will continue to be the operational base for Riverence and also Clear Springs Foods, in order to maintain existing brands, team members, and the markets they cater to. The rainbow trout producers have a combined workforce of more than 450 people.
Jeff Jermunson – CEO of Clear Springs Foods, commenting on Riverence acquisition of Clear Springs Foods, said: “We’re starting to reimagine the potential of the US trout industry.
“We are honored to begin the next chapter of our company’s long history as part of the Riverence family.”
Alongside Clear Springs Foods, Riverence is said to control the supply chain from its brood stock to delivery to distributors. The Riverence portfolio now has 14 farms that can produce 15,000 plus metric tons annually, four brood stations, a couple of processing facilities, a processing facility, a waste recovery plant, and a feed mill.
Among the shared resources are a modern fleet of a dozen over-the-road tractor trailer combos that are said to offer nationwide market access to all the rainbow trout products of Riverence and Clear Springs.