Thai Union Group has completed the acquisition of a 51% stake in Rügen Fisch.
Rügen Fisch is based in north-eastern Germany and is currently generating revenues in excess of €140 million. The company supplies ambient and chilled fish products, including herring, mackerel and salmon, across Germany to all leading retailers under its own key brands, Rügen Fisch, Hawesta, Ostsee Fisch and Lysell, along with a significant private label manufacturing business.
Thai Union says that the transaction has satisfied all regulatory requirements and customary closing conditions, including clearance by the competition authorities in Germany and the EU.
Rügen Fisch’s headquarters will remain in Germany and Thai Union says that it 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 Rügen 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.”
Andrew Bergmann will remain the CEO of Rügen Fisch.
