SOUTH AFRICA –Atlantis Foods, a South Africa-based seafood distribution company has acquired Snoek Wholesalers a major player in the distribution of fish and seafood products to the wholesale and retail trade in the country.
The deal is part of Atlantis Foods’ strategy to grow its business operations and considerably increase its revenue.
Snoek Wholesalers was founded in 1964, as a smoked snoek processing company but currently, processes and markets a wide variety of seafood products either fresh, dried, smoked or frozen.
Neil Pascall, Managing Director at Atlantis Foods said, “The acquisition of Snoek Wholesales is the next step in our expansion plan and complements our business perfectly.”
Atlantis was founded in 2003 and has amassed immense growth over the years as it currently supplies a broad range of seafood to wholesalers, food service customers and other major stakeholders in the retail industry.
The company secured investment from companies such as Mascato, a Spanish fishery and marketing company, and Lonrho, a pan-African investment company in 2011 and 2015 respectively.
The company acquired Breco Seafoods in 2017, a deal that established the company as one of the largest seafood distributors in south Africa.
With the acquisition, Atlantis will now operate a total storage capacity of more than 12,400 pallets.
As per the terms of the acquisition, Robert Zive who held the position of managing director at Snoek Wholesaler for seven years will join Atlantis Foods as director.
They aim to leverage his 26 years of experience and expertise at Snoek Wholesalers and in the fishing industry as a whole.
“We are delighted to join the Atlantis Foods team. They have built an incredible and industrious company that successfully operates in various market sectors. We look forward to pooling our resources and knowledge to the benefit of the business and all its stakeholders,” he said.
Snoek Wholesalers currently represent popular global brands such as Marfrio and Leroy in South Africa with a cold store in Philippi with which they have significantly contributed to local job creation.
In the markets it currently serves, Snoek Wholesalers has established a record for maintaining continuity of supply despite seasonal fluctuations by utilizing their cold storage facility that has a capacity of 3,900 pallets.
The company also has established international reciprocal trading relationships in North and South America European and Scandinavian countries, the Middle, and Far East, and Australasia.