February 28, 2014
Marubeni acquires seafood distributor Eastern Fish Company in the US
Marubeni Corporation announced its agreement to acquire American seafood distributor, Eastern Fish Company - one of the largest shrimp importers in the United States with an established long-term business with major US retail chains and foodservice businesses.
Tapping onto Marubeni's strong farmed and wild seafood market resources, EFC will become a complete seafood distributor upon completion of the acquisition.
The acquisition of Eastern Fish Company (EFC) will increase Marubeni's sales of shrimp in Japan and the United States to JPY50 billion (US$491 million). In addition to increased supply of shrimp, Marubeni's sales of other seafood items, including salmon, will be expanded.
With a larger volume purchases, Marubeni can get better pricing and strengthen its relationships with major shrimp producers in Asia and South America. This will allow Marubeni to secure steady supply of shrimp for Japanese market despite the tight shrimp supply caused by a shrimp disease in recent years.
In recent years, Marubeni has completed acquisitions in line with world population increase, changes in diet and strong seafood demands. In financial Year 2011, it acquired Alaskan Salmon processor, Red Salmon, as a part of North Pacific Seafoods, Inc.; it acquired European seafood company, Welmar Europe B.V., the following financial year; and it announced its strategic alliance with major Thai shrimp processor in Thailand, Seafresh Industry Public Company, in financial year 2013.
Upon completion of the acquisition, Marubeni will build a global sales network covering Japan, Europe and the United States and enjoy strong relationships with producers in Alaska, Asia, and South America, covering the entire value added chain from production to the sale of final products.