Fortune International Acquires North Bay Seafood Inc. To Strengthen Gulf States Distribution
Jun 01, 2022•over 3 years ago
Acquiring Company
Fortune International
Acquired Company
North Bay Seafood
Description
Fortune International, LLC (“Fortune” or the “Company”), the country’s leading processor, distributor and importer of quality seafood, meats and gourmet products, announced today the acquisition of North Bay Seafood Inc., which expands the Company’s operations in the Gulf States and increases its presence with large retail customers in the region. Terms of the transaction were not disclosed.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed