February 4, 2016
Seafood giant Thai Union Group Public Co. Ltd. (TU) announced that it had completed the acquisition of a 51% stake in German firm Rügen Fisch.
Rügen Fisch, with revenues in excess of €140 million (US$155 million), is Germany's shelf-stable seafood leader. The company supplies ambient and chilled fish products, including herring, mackerel and salmon, across Germany in all leading retailers under its own key brands, namely Rügen Fisch, Hawesta, Ostsee Fisch and Lysell.
The transaction has satisfied all regulatory requirements including clearance by the competition authorities in Germany and the EU.
Rügen Fisch's headquarters will remain in Germany. With the completion of the acquisition, Thai Union Group welcomes the addition of a new member with over 850 employees from four state-of-the-art processing facilities in Germany and Lithuania.
"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 CEO of the Thai Union Group.
Andrew Bergmann, CEO of Rügen Fisch, for his part, 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".
Andrew Bergmann will remain as the CEO of Rügen Fisch.