Monday, March 30, 2020

TU completes acquisition of Rugen Fisch

Feb 02. 2016
Facebook Twitter

By The Nation

Thai Union Group (TU), a shelf-stable tuna processor and owner of a portfolio of leading global seafood brands, has completed the acquisition of a 51-per-cent stake in Rugen Fisch.

Rugen Fisch, based in northeastern Germany, currently generating annual revenues in excess of 140 million euros (Bt5.45 billion), is that country’s shelf-stable seafood leader.

The company supplies ambient and chilled fish products, including herring, mackerel and salmon, across Germany to all leading retailers under its own key brands, namely RugenFisch, Hawesta, OstseeFisch and Lysell, along with a significant private label manufacturing business.

The transaction has satisfied all regulatory requirements and customary closing conditions, including clearance by the competition authorities in Germany and the European Union.

Rugen Fisch’s headquarters will remain in Germany.

With the completion of the acquisition, Thai Union Group said it welcomed the addition of a new member with more than 850 employees from four state-of-the-art processing facilities in Germany and Lithuania.

"Today we achieved another important milestone for Thai Union. We are ready to delight and win consumers with our premium, nutritious and sustainable seafood products in the German market," said Thiraphong Chansiri, president and chief executive of TU.

Andrew Bergmann, CEO of Rugen Fisch, said: "I am delighted about the completion of this acquisition.

"The integration will enable us to pursue our growth strategy and strengthen our foundation across Germany by increasing our ability to deliver superior value to our customers, consumers, employees and relevant stakeholders."

Bergmann will remain CEO of the German company.

Rugen Fisch is a well-known seafood player that has expanded successfully at home and abroad. The company owns modern fish-processing plants in Europe, with primary facilities in Germany and Lithuania.

The company has decades of experience in fish processing. Its products are under stringent quality control to ensure that customers’ requirements are always met to the highest degree, TU said.

Thai Union is regarded as the world’s largest producer of shelf-stable tuna products, with annual sales exceeding Bt120 billion and a global workforce of more than 46,000 people.

The company’s global brand portfolio includes Thai leading brands Sealect, Fisho and Bellotta, as well as market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, Century, and Rugen Fisch.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo