Japanese seafood titan Maruha Nichiro has finalized its acquisition of the remaining shares in Netherlands-based Seafood Connection, bringing its ownership stake to 100%.
In an announcement. Maruha Nichiro revealed plans to increase its shareholding from 81.96% to 100% later this month. The financial details of the transaction, along with the identity of the seller, remain undisclosed.
Establishing a stronger presence in the European market, Maruha Nichiro has identified Seafood Connection as a key “sales base for marine products.” The company emphasized that this acquisition will enhance its management structure and accelerate profit growth across the group.
Effective April, Jan Kaptijn, CEO of Seafood Connection, will transition to an executive officer role at Maruha Nichiro.
In 2024, Seafood Connection recorded net sales of Y130.97 billion ($842.7 million), reflecting a 3.9% increase from the previous year. Furthermore, operating income surged 17.7% to Y6.07 billion, while profit attributable to parent company owners rose by 35.2% to Y2.77 billion compared to 2023.
Headquartered in Urk, the Netherlands, Seafood Connection operates in ten additional countries. Earlier this year, the company acquired a 70% majority stake in Dutch seafood group Van der Lee Seafish, enhancing its footprint in the food and beverage industry.
Maruha Nichiro’s financial year concludes in March. For the recent 12-month period, the publicly-listed company achieved a 4.7% increase in net sales, totaling Y1.08 trillion. Operating income rose 14.5% to Y30.38 billion, with profit attributable to shareholders increasing by 11.6% to Y23.26 billion.
Moreover, in March, Tokyo-based Maruha Nichiro, among the world’s largest fish companies, announced plans to rebrand as Umios Corp. The new identity aims to facilitate sustainable growth and transform the company into a “solution company” that collaboratively creates value and addresses social challenges through food.
