High Liner Foods is investing $4.3 million a in TV and radio push in the US on its Sea Cuisine brand, having seen non-Icelandic USA sales slip in Q4 and 2012.
“During 2012, much of our attention was focused on integrating Icelandic USA into High Liner’s operations,” said CEO and president Henry Demone.
“Going forward, we can now focus on capitalizing on our combined strengths and operations to continue to maximize synergies and further solidify our leadership position in the North American frozen seafood market.”
As part of this, the company has begun a TV and radio advertising campaign in the first quarter of 2013 for “our Sea Cuisine product line, which should help increase sales volume but will also increase expenses during the quarter by an estimated $3.30m followed by an additional $1m in the second quarter of 2013”, said Demone.
Sea Cuisine is a higher-end, value-added brand. High Liner also sells into US retail under its Fisherboy brand, for commodity products, such as fish fingers.
Outside of its Icelandic USA division, the company had a tough Q4 and 2012 in the US.
“On a pro forma basis, that assumes Icelandic USA had been part of our operations for the full year in 2011, our total US operations recorded a sales decline of 0.9%, with weakness coming from our non-Icelandic USA businesses during the second half of the year,” said Demone.
However, the company had a record year on turnover and profit figures.