Tokyo, Japan-based Kyokuyo is buying both Engelsviken Canning Denmark (ECD) and Engelsviken Norway – a seafood-processing company and a seafood sales company that operate under Engelsviken Canning Norway.
Kyokuyo said in a release announcing the deal that its subsidiary, Kyokuyo Europe, will acquire a 90 percent stake in ECD, making it a consolidated subsidiary. ECD currently handles the production and sales of products for Engelsviken Canning Norway, and Engelsviken Norway handles the import and export of Engelsviken Canning Norway products, Kyokuyo said.
Kyokuyo said that the new purchase is part of its continued efforts to expand its overseas operations.
“With this acquisition of shares in the ECD Group – an organization with extensive experience in the sales of processed seafood products in the Nordic region – Kyokuyo will expand its sales coverage of the Nordic market, in addition to the Western and Southern European markets it has developed,” Kyokuyo said.
The company said the new purchase will provide further synergies with its existing European operations, which include North Seafood Holding and Turkish seafood processor Kocaman Su Ürünleri İhracat ve İthalat Ticaret, which it acquired in February 2024.
The company also launched a scallop-focused joint venture with Clear Ocean Seafood in April 2024.
The company’s operating profit decreased slightly in the first quarter of theits fiscal year ending 31 March 2026, dropping to JPY 2.6 billion (USD 17.5 million, EUR 15 million), which was down from JPY 3.1 billion (USD 20.9 million, EUR 17.9 million) in the same period of the prior fiscal year. However, its revenue increased year over year, reaching JPY 76 billion (USD 513 million, EUR 440 million), up from JPY 68 billion (USD 459 million, EUR 393 million).
