USA – Riverence Holdings, a producer and processor of seafood, has acquired Idoha-based Clear Springs Foods in a deal that makes Riverence the largest land-based producer of trout in the Americas.
The acquisition is part of Riverence Holdings’ strategy to have full ‘egg to plate’ control of the supply chain, as well as increased production, processing, and distribution capacity.
Clear Springs Foods now joins the family of businesses which also includes Riverence Brood in Washington, Riverence Farms in Idaho and Magic Valley. Together, the companies employ over 450 people.
The Magic Valley will continue to be the base of operations for both Riverence and Clear Springs Foods, with the intent to maintain existing brands, team members, and the markets they serve.
“We believe in aquaculture and sustainable, land-based production of seafood,” says Rob Young, CEO of Riverence.
“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.”
“We’re starting to reimagine the potential of the US trout industry,” says Jeff Jermunson, CEO of Clear Springs Foods. “We are honored to begin the next chapter of our company’s long history as part of the Riverence family.”
Riverence said that its mission is to decrease pressure on wild fish by providing an alternative source of premium seafood. Together with Clear Springs Foods, Riverence controls the supply chain from its brood stock to delivery to distributors.
The Riverence portfolio now includes 14 farms able to produce more than 15,000 metric tons annually, four brood stations, two processing facilities, a value-added processing facility, a waste recovery plant and a feed mill.
Shared resources also include a modern fleet of 12 over-the-road tractor trailer combos providing nationwide market access to all Riverence and Clear Springs products.
The company is also an IMPACT partner of the James Beard Foundation and the official trout of the James Beard House, recommended by FishWise and Ocean Wise, and a Monterey Bay Seafood Watch “Best Choice.