Aalborg, Denmark-based seafood processing equipment manufacturer Carsoe has entered into an agreement to acquire Intech, a Broenderslev, Denmark-based packaging and processing equipment specialist.
Terms of the deal, which was completed 6 October and announced on Thursday, 7 October, were not disclosed.
“The acquisition is a complementary fit and will benefit customers in both the seafood processing segment and the food-denesting segment by addressing increasing customer demands for complete solutions from a full-line supplier,” Carsoe said in a press release. “The new consolidation enables Carsoe and Intech to further develop their industry-leading positions within the seafood and food segments and increase focus in both market areas. Both companies see the tremendous potential for further growth, expanded business operations, and opportunities to attract future talent.”
Following the acquisition, the larger company’s seafood operations will take place under the Carsoe umbrella and its food activities – with a focus on tray-denesting technology – will be centered under Intech.
“The consolidation aims to sharpen focus and increase the capacity to significantly strengthen each segment’s market position and growth potential by leveraging the benefits of pooling investments in sales, service, and product development,” Carsoe said.
Carsoe CEO Hugo Dissing will oversee the combined seafood activities, with the goal of growing the company’s development, manufacture, marketing, distribution, and servicing of machinery for handling, processing, freezing, and packing seafood. The company said it will broaden its product offerings in the smaller-vessel segment and aim to grow in both existing and new markets both onshore and offshore.
“We are excited to join forces and to build an even stronger Carsoe seafood business,” Dissing said. “We are on a journey to becoming the largest global preferred supplier of onboard seafood processing systems. On a personal level, I feel privileged to have the opportunity to bring together the highly experienced employees from Intech’s seafood division, here under the new colleagues that recently joined from KM Fish Machinery, with the employees from Carsoe. Together we will be even stronger. Both our companies share similar company cultures, and I look very much forward to the shared journey that lies ahead.”
KM Fish Machinery was acquired by Intech in June 2021 and is considered part of Intech’s seafood division, according to Carsoe.
Following the merger, Intech’s food division will develop, manufacture, market, distribute, and service INTRAY and AnyTray products.
“Within the food segment, Intech has experienced significant growth due to a clear and ambitious strategy. This strategy can be pursued even further now because of expanded activities and consolidated forces,” Carsoe said. “Intech will have the capacity to focus more on the tray denesting products in combination with automation applications such as pick-and-place robots and complete packaging solutions in close cooperation with its subsidiary DamGaard Automatik.”
Intech CEO Kim Weidemann will lead the division.
“With two market-leading denesting brands, AnyTray and INTRAY, under one roof, we can expand our product portfolio substantially and focus on food packaging as our core business,” Weidemann said. “The food business is ever-expanding since customers are looking for increased convenience. New technologies will continue to emerge, and we are preparing ourselves for this exciting future by refocusing our business.”
Leif Carøe Andersen and Carsten Trudslev will continue in their leadership roles in the company, as both own significant minority ownership stakes in the combined business.
“I have been fortunate to be part of the seafood industry my whole work life, and during the last 22 years, building up Intech as a known brand in the industry. Today marks a new beginning for Intech, Carsoe, and me personally when I bring my expertise and the seafood team over to Carsoe to build a new common future,” Andersen said. “This is a perfect fit, and the timing could not be better. I am proud to become part of the Carsoe Seafood business and to leave the food business in competent hands at Intech. Also, it is a natural development for Intech and an excellent opportunity to launch its next journey by making this generational change.”
Trudslev said the consolidation “is the right step for everyone.”
“There are so many positive aspects here,” he said. “I strongly believe it will bring along many good things for our employees, for both companies, and for the local community, when we bring together two market leaders to further sharpen their individual industry focus. Based on my deep insight into both companies I am confident that this is the best strategic outcome for both the seafood and the food business, and I look very much forward to contributing to the further development of the combined food business.”
Photo courtesy of Carsoe
