July 11 – Zhanjiang Guolian Aquatic Products (300094) filed it plans to acquire Sunnyvale Seafood, a seafood wholesaler based in San Jose, California, reports yicai.cm.

The move aims to expand the company’s international market. Guolian already derives the majority of its sales from seafood exports to the United Stated and also produces fish feed.

Sunnyvale Seafood was founded in 2005 and is engaged in the wholesale of frozen seafood and meats. The source said it is worth between four and eight million dollars.

Guolian plans to acquire a 70-percent stake in the target.

Source:Capitalvue