Business
Where Food Comes From, Inc. Enters Seafood Space with Acquisition of Postelsia Holdings Ltd., a Leading Provider of Environmental and Social Sustainability Programs for the Seafood Value Chain
CASTLE ROCK, Colo., March 04, 2020 (GLOBE NEWSWIRE) -- Where Food Comes From, Inc. (WFCF) (OTCQB: WFCF), the most trusted resource for independent,
About this update from Where Food Comes From, Inc.
[{"type":"text","content":"CASTLE ROCK, Colo., March 04, 2020 (GLOBE NEWSWIRE) -- Where Food Comes From, Inc. (WFCF) (OTCQB: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today announced it has acquired all of the stock of privately held Postelsia Holdings Ltd. (“Postelsia”).\n Postelsia ( www.postelsia.com ), based in Victoria, British Columbia, is a leader in the emerging field of environmental and social sustainability programs for the seafood industry. The Company will operate as a wholly owned subsidiary of Where Food Comes From, Inc., under the direction of its co-founders Corey and Laura Peet. Postelsia provides a range of programs and consulting services designed to improve and promote inclusive sustainability practices in seafood supply chains in order to manage risks to buyers associated with environmental impact and worker abuse and also to help maximize value for the producers themselves. The Company has a diverse set of customers that spans the supply chain, including producers, retailers, consumers, restaurants and other entities. The Company also advises the James Beard Foundation Smart Catch program ( www.jamesbeard.org/smart-catch ), an educational sustainable seafood initiative created by chefs for chefs with the purpose of increasing the sustainability of the seafood supply chain. “This is a significant acquisition for Where Food Comes From in that seafood was the only major food sector where we did not have a presence,” said John Saunders, Chairman and CEO of Where Food Comes From, Inc. “In addition to rounding out our solutions portfolio, Postelsia strengthens our leadership position in the protein space and extends our geographical reach. Postelsia was an early innovator in the space and is leading a variety of important initiatives, with a particular emphasis on the shrimp industry. Our goal is to help Postelsia expand its customer base and build out sustainability programs around the world.” Corey Peet, founder of Postelsia, added, “We are excited to become part of the Where Food Comes From family – a move we believe can help take our business to the next level. At Postelsia, we believe that improvements in seafood need to foster equity and shared value across the supply chain. In creating these innovative solutions with producers, we aim to connect our pro...