Estonian seafood company buys two UK smoked salmon firms
AS PRFoods (PRF) has completed the acquisition of majority shareholdings in John Ross Jr. (Aberdeen) Ltd. (JRJ) and Coln Valley Smokery Limited (CVS), both located in the United Kingdom.
The total purchase price paid by the Estonian-based seafood production company was in excess of GBP 13.1 million (USD 17.1 million, EUR 14.6 million).
JRJ and CVS are related companies through their shareholders. The former is a leading Scottish salmon processing company with sales in 30 countries and Royal Warrant Holder of the British Royal Family, while CVS is a traditional salmon smokery located in the Cotswolds.
The audited turnover for JRJ for the financial year 2016 was GBP 11.3 million (USD 14.7 million, EUR 12.6 million), while the unaudited turnover for CVS for the same period was GBP 4 million (USD 5.2 million, EUR 4.5 million).
PRF said the transaction increased the assortment of fish products offered by its group of companies and expanded the geographical area of operations to more than 30 countries.