Seafood Connection – a Dutch subsidiary of Japan’s Maruha Nichiro – has acquired a 70% majority stake within the Netherlands’ Van der Lee Seafish.
The €40m ($44.4m) deal sees Seafood Connection purchase shares in Van der Lee Seafish’s subsidiary King Fish Choice.
Seafood Connection is headquartered within the Dutch city of Urk and has operations in one other ten nations, together with Portugal, France, Italy, Poland, Spain, the UK, Bangladesh, Vietnam, India and China.
“It is true Seafood Connection is all the time wanting to increase our product vary and gross sales community for frozen seafood,” stated Jan Kaptijn, CEO of Seafood Connection. “Subsequent to our natural development, M&A is a crucial solution to pace up our development into the European market.”
Van der Lee Seafish, additionally based mostly in Urk, generated internet gross sales of Y11.56bn ($78m) and a revenue per share of Y54,101, in line with a Maruha Nichiro submitting asserting the dea.
In March, Tokyo-headquartered Maruha Nichiro, one of many world’s largest fish corporations, introduced plans to vary its commerce title to Umios Corp.
In its most up-to-date full-year accounts to the top of March 2024, the publicly-listed firm booked a 1% improve in internet income to Y1.03tn. Revenue attributable to shareholders rose 12.1% to Y20.8bn.
Nevertheless, working earnings dropped 10.3% to Y26.5bn.
“Maruha Nichiro snaps up majority stake in Van der Lee Seafish” was initially created and revealed by Simply Meals, a GlobalData owned model.
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