November 1, 2011

Leroy Seafood to buy 50.1% of Rode Beheer

Norway's Leroy Seafood Group ASA had agreed to buy 50.1% of Dutch Rode Beheer BV for EUR15 million (US$21 million).

Rode, which is based in the central Dutch town of Urk, has 87 employees. In 2010, the company booked a net profit of EUR2.8 million (US$3.9 million) on sales of EUR50.6 million (US$70.1 million).

The acquisition is part of Leroy's strategy to focus on independent local units centrally placed in important seafood markets. According to the Norwegian company, Rode is well positioned as a supplier to customers in important markets such as the Benelux countries, Germany and France. The Dutch company will also help expand Leroy's product range.

Closing of the deal is pending an ongoing due diligence.