Lifelong salmon smoker Alan Spence started Spence & Co in Massachusetts, USA, in the 1990s.
In a Philippine Stock Exchange announcement, Fish canning firm Alliance Select Foods International said it has sold its Massachusetts-based subsidiary Spence & Co to Acme Smoked Fish of Massachusetts.
Alliance wrote that it wanted to focus on operations in the Philippines and New Zealand, reports abs-cbn. Alliance acquired the US business in 2011 for an undisclosed amount. Proceeds from the sale will be used to fund capital expenditures and pay off debt “significantly,” Alliance Select said.
Founded by Alan Spence in 1989, Massachusetts’ Spence & Co. imports Scottish salmon and its plant is located South of Boston, with access to Logan International Airport and the seaport. Its salmon can also be found in supermarkets like Whole Foods but it ships its salmon all over the country.
The 100-year-old Acme Smoked Fish turns over USD 31.5M in revenue annually and owns a variety of brands including Acme, Blue Hill Bay, Ruby Bay, and Great American.