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A&L Goodbody LLP 

August, 2003 - Dublin, Ireland

 

Irish Seafood Cracks US Market in Largest Organic Seafood Deal in Irish History

 

A&L Goodbody, Ireland’s leading law firm, has just closed a major international distribution deal for Dublin based Emerald Isle Global Trading Limited (EIGT) with Wild Oats Markets, a nationwide chain of natural and organic foods markets in the U.S. and Canada.

EIGT will source and supply Irish seafood products for Wild Oats’ 110 natural foods stores, positioning Wild Oats as the exclusive national retailer of organic Irish salmon in the United States. Wild Oats’ seafood programme is one of the fastest growing sectors of their company, and enjoyed 32% sales growth in 2002.

EIGT has committed to a three-phase program, incorporating a variety of Irish seafood products. Firstly, Wild Oats’ weekly usage of 8,000-12,000lb of salmon will be sourced exclusively from the Clare Island Sea Farm, which is located six kilometres off the coast of county Mayo. In September2003, Wrights of Howth’s premium smoked salmon and Dublin Bay prawns and scallops will commence shipment. Then, in September / October mussels and value added salmon products from Carrowkeel Seafood, based in Killala, Co. Mayo, will meet US market demand for superior organic fish.

Michael Greene, Chairman of A&L Goodbody and Lead Counsel on the deal, commented
“This is a highly significant deal for the organic food industry in Ireland, and one that is particularly welcome in light of the reported slow down in industrial growth from the CSO yesterday. At times of economic difficulty the need for vision and entrepreneurial wisdom are invaluable commodities. Our work with EIGT over the past number of months in securing this deal has highlighted the opportunities that still exist in the international marketplace.”

Patrick Martin, CEO of Emerald Isle Global Trading Ltd, spoke about what this deal will mean to his company and the suppliers that he has partnered with,
“EIGT was established earlier this year with a focus on positioning select Irish seafood in the US market. Failure to penetrate the US market in the past had largely been price driven, however we recognised the value in promoting a superior organic product to the high-end consumer and were supported through the work of Enterprise Ireland. The farmed products which have been sourced in Ireland perfectly match the expectations we have created and this deal will enable Irish producers to make a national entrée into the US, exclusively through Wild Oats Markets.”

ENDS 1st August 2003

Further Information Contact:

Sinead Hennebry, A&L Goodbody 01 649 2000 / 086 6027930
Róisín Sorahan, Murray Consultants 01 4980300 / 087 9580500

Editor’s Note:

A&L Goodbody offers a unique breadth and depth across every facet of business law. The Firm’s portfolio combines commercial law expertise with a specialist focus on the key legal disciplines and business sectors that drive the local and international economies. The firms success has created enduring business relationships with Irish and international clients from every sector. The firm has advised many international companies on successful investments in Ireland, and the firm regularly partners the worlds leading international law firms on the Irish aspects of multinational transactions. The firm has offices in London, Boston Brussels and New York.

Emerald Isle Global Trading ltd, based in Dublin with anadministrative facility in the United States, was founded by Patrick Martin. It is the exclusive distributor of Irish organic seafood products to Wild Oats Markets, Inc.

Wild Oats Markets, Inc. is a nationwide chain of natural and organic foods markets in the US and Canada. The company operates 110 natural foods stores in 25 states and British Columbia, Canada. For more information visit the company’s website at: www.wildoatsinc.com

Patrick Martin is the CEO and a Director of Emerald Isle Global Trading Limited. Mr. Martin has a unique and extensive food career and successful background in building and managing seafood companies in the USA and Europe. Originally a Chef, restaurateur and founding member of the American Chef’s Association and the Culinary Institute of America, he was the winner of the prestigious James Beard award for culinary excellence in 1998 and 1990. He established the Cambridge Group Smoked Salmon company, becoming one of the largest importers of fresh salmon into the US. He also acted as special culinary advisor to the Four Seasons globally. The Emerald Isle Global Trading company was founded by Patrick in 2003.


 

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