Tokyo-listed seafood company Kyokuyo has acquired a majority interest in Northseafood Holland to strengthen its presence in overseas processing.
The undisclosed stake, acquired through the Netherlands holding business NSF Holding, marks a strategic move by the Japanese firm Kyokuyo to expand its global operations.
NS Holland, now a subsidiary of Kyokuyo Europe, is part of the company’s expansion plans, following its majority holding in Turkey’s Kocaman Fisheries Export and Import Trade.
Kocaman, established in 1981, is a key player in the fresh and frozen seafood market, with an annual turnover of €13.9m ($15m) in 2022.
Kyokuyo aims to enhance its European food production bases, leveraging the processing capabilities of NS Holland to handle marine raw materials from around the world. The company also anticipates synergies in sales networks with Kocaman in Turkey.
NS Holland, based in Urk, specializes in fishing, processing, and packaging fresh seafood for retail, foodservice, and B2B clients, offering private-label products as well as the Deliz brand with value-added options such as breaded fish.
With roots dating back to 1982, the Netherlands-based company supplies local and European markets with its seafood products.
Founded in 1937, the Kyokuyo group encompasses Japanese subsidiaries and Thailand-based Kyokuyo Global Seafoods, owning prominent seafood brands Sea Marché and Dandori Jozu, the latter also featuring meat products.
In its latest financial results, Kyokuyo reported a 3.9% decrease in net sales to Y261.6bn ($1.6bn) for the year ended 31 March. However, operating profit grew by 7.3% to Y8.8bn, with net profit attributable to shareholders increasing by 2.6% to Y5.9bn.
