Sarasota's Mote Marine to sell caviar business
Mote Marine Laboratory announced Monday that the Sarasota-based research center and aquarium will sell its Siberian sturgeon and caviar business.
Southeast Venture Holdings, LLC, also known as Seven Holdings, will acquire the operation that makes a ton of caviar each year, said Mote’s President and Chief Executive Officer Dr. Michael P. Crosby.
“Mote’s strategic priorities focus on translating and transferring the information and technology produced by our diverse research enterprise in order to not only support long-term conservation and sustainable use of our marine resources, as well as to enhance ocean literacy among the public, but to also serve as a foundation for creation of new economic engines for Southwest Florida,” Crosby said in a statement. “This is a great example of how basic research in the field of sustainable land-based aquaculture has led to innovative water recirculation technology that can help sustainably feed the world and help to expand employment in our region.”
Mote’s caviar can go for about $55 at Whole Foods in Sarasota to $1,900 for a kilogram through online retailers. The non-profit estimated it produced 1.8 metric tons of caviar last year and 81,000 pounds of sturgeon meat.
The deal also includes a research agreement for commercializing and investing into Mote’s land-based recirculating marine and freshwater aquaculture operations at the 200-acre Mote Aquaculture Park, 12300 Fruitville Road, Sarasota, where the caviar operation takes place. The funding is expected to expand Mote’s studies to grow seafood and restocking depleted fish species in the wild, according to Mote.
Seven Holdings, the same firm that was spearheading a bayfront relocation and expansion for Mote, will integrate the caviar business into its Healthy Earth brand food businesses. Christopher Cogan, a general partner with Seven Holdings, will serve as Health Earth’s CEO. Health Earth developers scalable sustainable food operations into a commercial business focusing on foods using natural feed supplements and substitutions for chemical pesticides and fertilizers.
“Through the domain expertise of our partners in areas such as aquaculture, aquaponics, microbiology, farm management and food distribution, we are developing responsible and commercially viable alternatives to how sustainable foods are produced and sold,” Cogan said.
Seven Holdings general partner Russell Vernon likened the investment and research to Gatorade’s beginnings at University of Florida.
“In addition to bringing investment capital to the Farm-Raised Sturgeon and Caviar operations, our firm also includes an impressive lineup of advisors and investors able to bring their business acumen to the operation,” Vernon said. “By bringing in best commercial practices, marketing expertise and resources, we can help Mote fully realize its original vision. And, just like Gatorade did for the University of Florida, this will provide an ongoing source of funding for Mote’s aquaculture research programs.”
This story was originally published November 25, 2014 at 7:24 AM with the headline "Sarasota's Mote Marine to sell caviar business."