Morubel purchases stake in North Sea shrimp processor
Belgian shrimp company Morubel continued its streak of acquisitions with the purchase of a 50 percent stake in North Sea shrimp processor Telson B.V.
Morubel, which is backed by private equity firm Bencis Capital Partners (GBC), bought the German firm Ristic in March 2016. It announced its Telson deal at its booth at Seafood Expo Global in Brussels, Belgium, on Tuesday, 26 April. Terms of the deal were not revealed.
“We had ambition to step into the fresh business again…and with machine-peeled North Sea shrimps, we are making another big step in that area,” Morubel Managing Director Edo Abels said.
Telson is based in Leens, in the Netherlands and processes North Sea shrimp, also known as brown shrimp (Crangon crangon). Telson Director Rob Pikkert said its peeling machines have been specially developed over 25 years, in coordination with machine company GPB Kant, to handle the small variety of shrimp caught in the North Sea. It processes about 500 metric tons of North Sea shrimp per week, Pikkert said.
“We are happy found a partner in Belgium, because it’s the big market for North Sea shrimp,” Pikkert said. “We are confident that together we will make a successful group.”
Telson was looking for a partner that would help them enter northern European markets, especially Belgium, the Netherlands and Germany, Pikkert said.
“Morubel and Ristic already have a connection to foodservice and retailers there, so that will be a big help for us,” he said.
Telson expects its new factory in Lauwersoog – set to open in June 2016 – to help it increase weekly European processing volumes to 150 metric tons per week, with the remainder processed in Morocco, Telson told SeafoodSource. Abels said GBC expected Telson’s processing capacity to help it market fresher product, given that much of its shrimp is currently processed in Morocco.
“We share the same vision and philosophy in regard to sustainability, and with the introduction of Telson’s peeling machines, it will allow us to keep the shrimp in Europe and we think we can have much fresher product on the shelves of our customers,” Abels said.