Thai Union discloses price of German acquisition
Thai Union Group’s (TU’s) acquisition of a 51 percent stake in Rugen Fisch AG cost the international seafood supplier EUR 42.2 million (USD 46.1 million), it has confirmed.
TU announced the deal in December 2015 and completed the transaction at the start of this month, but did not disclose the value of the purchase at the time.
Based in northeast Germany, Rugen Fisch is the country's shelf-stable seafood leader and generates revenues in excess of EUR 140 million (USD 152.8 million). It supplies ambient and chilled fish products, including herring, mackerel and salmon, across Germany to all leading retailers under its own key brands Rugen Fisch, Hawesta, Ostsee Fisch and Lysell. It also has a significant private label manufacturing business.
The company employs more than 850 people across the four primary facilities in Germany and Lithuania.