Less than one month after Thai Union and private equity firm Lion Capital agreed to terminate the $1.5 billion acquisition of U.S.-based Bumble Bee Seafoods because of resistance from the U.S. Department of Justice due to anti-trust concerns, Thai Union has announced it has agreed to acquire a majority stake in Germany’s Rugen Fisch, according to Undercurrent News.

 

Based in North East Germany, Rugen Fisch owns the leading shelf stable, German canned seafood brand, Hawesta, and currently generates revenue over €140 million. The company produces ambient and chilled fish, including mackerel, salmon, and herring under the brands, Hawesta, Ostsee Fisch, Lysell, and Rugen Fisch, which it distributes to retailers across Germany, reports 4-Traders.

 

Germany is one of the largest seafood markets in the EU and tuna is the fastest growing category in the regional market, according to Thai Union, reports Undercurrents.

 

"As such, this presents the opportunity for further organic growth, helping deliver key synergies within our existing businesses, most notably King Oscar and Meralliance. This will be achieved through the combined commercial strength of Rugen Fisch and the tuna expertise of Thai Union,” said Thai Union president and CEO, Thiraphong Chansiri.

 

The tie-in with Thai Union, the world’s largest shelf-stable tuna processor and owner of a portfolio of a range of seafood brands, will enable Rugen Fisch to invest in the development of innovative new tuna products, increasing the variety of its product offerings, while also increasing sales both domestically and internationally.