ADVERTISEMENT

ADVERTISEMENT

Schwan’s, trū Shrimp enter into partnership

MARSHALL, Minn. -- The tr? Shrimp Company, an affiliate of Ralco, and Schwan's Company, a leading national U.S. food business, have announced formation of a strategic partnership designed to help propel in-land shrimp production forward.

3440824+061417.AG_.LuverneMNshrimp02.jpg
Mikkel Pates/Agweek

MARSHALL, Minn. - The trū Shrimp Company, an affiliate of Ralco, and Schwan’s Company, a leading national U.S. food business, have announced formation of a strategic partnership designed to help propel in-land shrimp production forward.

As part of the new partnership between two of the Marshall-based companies, Schwan’s is making a significant investment in the trū Shrimp Company. Terms of the partnership were not disclosed.

Both companies said the partnership will generate opportunities to work together in providing consumers with safe, natural shrimp. Jon and Brian Knochenmus of trū Shrimp have also invited Schwan’s Company to designate a member to join the board of directors.

“We have been watching with great interest the concept and the progress that was being made by trū Shrimp,” Schwan’s CEO Dimitrios Smyrnios said. “At Schwan’s, we are intrigued and excited about the possibilities of in-land shrimp production and view this as an excellent opportunity to provide consumers with a predictable and traceable supply of nutritious shrimp. We are also proud to work with trū Shrimp as it develops its core business in our hometown of Marshall to the benefit of the southwest Minnesota area.”

Ralco President and CEO Brian Knochenmus said it is a rare opportunity for two companies with global distribution from southwest Minnesota to share such similar missions and values. The similarities make the partnership a perfect fit, he said.

ADVERTISEMENT

“We are eager to be a part of this strategic relationship with Schwan’s Company,” Knochenmus said. “This is our first opportunity to collaborate, and they are a proven company that brings great market insight and capabilities to assist the growth and development of trū Shrimp. Schwan’s Company recognizes the potential of what trū Shrimp is doing, and the impact it will have not only domestically but also internationally.”

An initial point of cooperation for the companies is the renovation of available manufacturing space in Marshall owned by Schwan’s. The space will be converted into the first shrimp-processing facility. There is a memo of understanding to lease the facility located in the Marshall Industrial Park to house the processing and packaging of shrimp for market. trū Shrimp is also working through the details of locating a shrimp hatchery in Marshall.

What To Read Next
As Mikkel Pates approaches his retirement from Agweek after 44 years in journalism, he talks to Rose Dunn about learning TV, covering ag's characters and scandals and looking toward the future.
Members Only
“In our industry there aren’t a lot of young people in it. I like the fact that there are a lot of young people in agriculture here,” he said of the Mitchell area.
Minnesota Farmers Union, Minnesota Soybean Growers Association and Minnesota Corn Growers Association were pleased with items in Gov. Tim Walz's "One Minnesota Budget" proposal.
John Deere and the American Farm Bureau Federation recently announced they had come to an agreement that will lead to more accessible repairs to John Deere equipment.