Thai Union buys stake in German seafood company

THAI Union Group Public Company Limited (TU) has agreed to acquire majority stake in German shelf-stable canned seafood company, Rügen Fisch AG.

Under the new deal, the current shareholders will stay in the company and work with Thai Union. Acquisition will be completed by end of January 2016 subject to merger clearance in Germany.

Based in Northeast Germany, Rügen Fisch has 850 staff at four facilities in Germany and Lithuania. It supplies ambient and chilled herring, mackerel and salmon in Germany to retailers under key brands such as Rügen Fisch, Hawesta, Ostsee Fisch and Lysell, along with a significant private label business. It generates in over €140 million in revenue annually.

In a press release, Thiraphong Chansiri, President and CEO of Thai Union said, “Germany is one of the largest seafood markets and part of our strategic pillars for growth in Europe. Through this partnership with Rügen Fisch, Thai Union becomes a market leader in Germany and further strengthens its position as one of the European seafood leaders.”

Related reports:

Thai Union break offs contracts with local pre-processors

Thai Union to abide by new Business Ethics and Labor Code of Conduct