GERMANY – Thai Union Group, one of the leading sea food companies in the world and the number one producer of shelf-stable tuna products, has taken full ownership of Rügen Fisch, a German manufacturer of shelf-stable seafood products.
The Thailand-based company acquired a majority, 51% holding in Rügen Fisch in 2016 and has now purchased the remaining 49% stake.
Headquartered in Sassnitz, Rügen Fisch supplies ambient and chilled fish products to retailers across Germany through its brands, which include Rügen Fisch, Hawesta, Ostsee Fisch and Lysell.
The company which currently generates revenues in excess of €140 million and employs more than 680 people across sites in Germany and Lithuania also has a private label manufacturing business.
The acquisition of Rügen Fisch comes at a time when the seafood market is projected to have a stable outlook, with growth expected to be on the lower single-digits in the near term.
According to data from Research and Markets, the seafood market size was valued at US$159.3 billion in 2019, and is projected to reach US$193.9 billion by 2027, registering a CAGR of 2.5% from 2020 to 2027.
The market research company notes that the growth of the global seafood market is majorly driven by increase in awareness about the health benefits associated with seafood.
However, depletion of wild stock of fishes in seas acts as the major restraint for the market. On the contrary, rise in the collaboration between manufacturers and food service providers is expected to provide lucrative opportunities for growth for the global market.
“Rügen Fisch has been a key part of Thai Union Europe and the wider Thai Union Group since our initial investment five years ago,” said Thiraphong Chansiri, president and CEO of Thai Union Group.
“This further acquisition demonstrates the great value that it has brought to us as well as our continued commitment to the German market.”
Jens Vogler, CEO of Rügen Fisch, added: “Since joining Thai Union, Rügen Fisch has been able to reap the benefits of being part of a truly global group. We are now looking forward to even further integrating with Thai Union and embarking upon the next stage of this exciting journey.”
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