MANILA, Philippines - Publicly-listed canned fish exporter Alliance Select Foods International Inc. (ASFI) said it expects smoked salmon to remain a major growth driver in the next years, bolstering its bid to become a premier global seafood company.
In a disclosure to the stock exchange yesterday, ASFI said Spence & Co., a wholly-owned unit based in the US, has been tapped as sole supplier for the entire Wellesley Farms’ smoked salmon product line. These products will be sold in BJ’s Club stores, a membership warehouse retailer with 190 locations in 15 states on the US East Coast.
Premium salmon processor Spence is expected to account for 20 percent of ASFI’s net profit this year.
To meet strong demand, ASFI said Big Glory Bay Salmon & Seafood Co., a subsidiary based in Gen. Santos City, is stepping up efforts with repeat orders from leading retailers and distributors in Japan, Hong Kong and Singapore.
BGB will commence exports in February to E-mart, South Korea’s largest retailer, as it seeks to make its presence felt in the lucrative South Korean market.
“With significant investments in the smoked salmon business, ASFI is now the largest producer of smoked salmon in Southeast Asia. And with higher profit margins and growth plans for the business, smoked salmon will play a significant role in ASFI’s goal to become a premier global seafood company,” ASFI said.