Deal extends the European reach of the world’s largest seafood company.
Diversified Japanese giant Maruha Nichiro reached an agreement to acquire 33,3 percent of Spanish seafood firm Inlet Seafish for an undisclosed sum. Part of the deal is also to come to a majority stake within the next 2 years. The deal is facilitated through Maruha Nichiro’s subsidiary Seafood Connection.
Seafood Connection, part of the Maruha Nichiro Corporation since 2013, is a leading European supplier of a wide range of high-quality frozen seafood products distributed to retailers and foodservice, wholesalers and food processing companies. “Inlet Seafish will strengthen our position in sales of seafood products in the Spanish market”, explains Jan Kaptijn (CEO Seafood Connection).
The deal was closed between Eino Brand and Rafael Campuzano for Inlet and Jan Kaptijn, representing Seafood Connection.
Over the last 25 years Inlet Seafish has become a significant player in frozen seafood products mainly to the Spanish market. Its headquarters is located in Parc Sagunt (Valencia), and has several sales offices throughout Spain. In addition, it has offices dedicated to the monitoring, inspection and purchase of products in different origins such as Cochin (India), Ho Chi Minh City (Vietnam), Reykavik (Iceland) and Shanghai (China).
The deal will allow Inlet Seafish to connect to the large sourcing network of Maruha Nichiro’s network of companies. Maruha Nichiro has 187 companies all over the world. “I’m excited to become part of this network and to become their footstep into the Spanish market”, Eino Brand said.
“We have strong ambitions for growth. This deal will give Maruha Nichiro a much wider reach into the Spanish wholesale and retail segment, particularly on a local level”, explains Raphael Campuzano who’s the companies commercial Director.