Thai Union Completes an Acquisition of Rügen Fisch
2nd February 2016, Bangkok, Thailand - Thai Union Group Public Company Limited (TU), the world's largest shelf-stable tuna processor and owner of a portfolio of leading global seafood brands, is pleased to announce that it has completed the acquisition of a 51% stake in Rugen Fisch.
Rügen Fisch, based in northeastern Germany, currently generating revenues in excess of €140 million, is the country's shelf-stable seafood leader. The company supplies ambient and chilled fish products, including herring, mackerel and salmon, across Germany to all leading retailers under its own key brands, namely Rügen Fisch, Hawesta, Ostsee Fisch and Lysell, along with a significant private label manufacturing business.
The transaction has satisfied all regulatory requirements and customary closing conditions, including clearance by the competition authorities in Germany and the EU.
Rugen 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.
"Today 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, Thai Union Group.
"I am delighted about the completion of this acquisition," said Andrew Bergmann, CEO of Rugen Fisch. "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."
Mr. Andrew Bergmann, CEO, will remain the CEO of Rugen Fisch.