Skip to content. | Skip to navigation

Personal tools
Log in
Sections
You are here: Home Blog How much is GloFish worth?

How much is GloFish worth?

By Leonard Ho - Posted Sep 05, 2017 09:00 AM
Yorktown Technologies LP has sold their brand, GloFish to Spectrum Brands for approximately $50 million in cash plus incentives. GloFish are genetically engineered fluorescent "designer" tropical fish that are marketed to aquarists (where legal).
How much is GloFish worth?

GloFish

Yorktown Technologies sold its GloFish intellectual property to Spectrum Brands, a highly diversified consumer products company whose product lines include well-known brands such as Black+Decker, Rayovac, Armor-all, as well as aquarium brands such as Tetra and Marineland.  In all, Spectrum Brands, based in Madison (WI), is a $3 billion company.

Spectrum Brands acquired the GloFish tradename and technology, which currently includes three species (danio, barb, and tetra) of fish in six fluorescent colors. GloFish are not dyed or injected.  Rather, they are genetically engineered and born with these fluorescent pigmentation.   So popular are these "designer" fish that the company estimates GloFish has about 15 percent market share among aquarium fish sales.

The sale of GloFish was completed on May 12, 2017, though the details only recently surfaced thanks to legally-required SEC public reportingBusiness Journal writes:

The sale included $37.8 million in intangible assets such as tradenames and technology and about $600,000 in property and equipment, according to the securities documents. In addition to the $50 million upfront, Yorktown is eligible for additional payments — estimated at $4.2 million but subject to change based on how close GloFish revenue meets projections.

GloFish have proven controversial for ecological and ethical reasons.  While these fish are sold worldwide, they are currently illegal in Canada and Europe due to concerns about the safety of genetically engineered animals.  These fish were also illegal in California from 2002 to 2015, but the regulations were lifted in 2015 due to a growing body of evidence and the findings of the Food and Drug Administration and the Florida Department of Agriculture and Consumer Services. With the backing of its new owner, GloFish is likely to expand its market.

Author: Leonard Ho
Location: Southern California

I'm a passionate aquarist of over 30 years, a coral reef lover, and the blog editor for Advanced Aquarist. While aquarium gadgets interest me, it's really livestock (especially fish), artistry of aquariums, and "method behind the madness" processes that captivate my attention.

Website: http://www.advancedaquarist.com.

Document Actions
Filed under: ,
blog comments powered by Disqus

blog_sm.jpg

Contribute to our blogs!


Do you have news or discussion topics you want to see blogged?  Let us know!

 

ADVANCED AQUARIST