Seafood giant Thai Union Group has announced that it has acquired the remaining 49% shares of Rügen Fisch AG (Rügen Fisch).
In 2016, Thai Union Group acquired a majority holding (51%) in the German company.
Thiraphong Chansiri, president and CEO of Thai Union Group, said, “Rügen Fisch has been a key part of Thai Union Europe and the wider Thai Union Group since our initial investment five years ago.
“This further acquisition demonstrates the great value that it has brought to us as well as our continued commitment to the German market.”
A Leading Name
Rügen Fisch, headquartered in north-eastern Germany, generates revenues in excess of €140 million and is a leading name in shelf-stable seafood in the country.
It supplies ambient and chilled fish products, including herring, mackerel, salmon and tuna, across Germany to leading retailers under its own key brands, namely Rügen Fisch, Hawesta, Ostsee Fisch and Lysell, and operates a significant private-label manufacturing business.
The company employs more than 680 people across its facilities in Germany and Lithuania.
'A Global Group'
Jens Vogler, CEO of Rügen Fisch AG, stated, “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.”
Recently, Thai Union reported a net profit of THB1.8 billion (€48 million) in the first quarter of its financial year, up 77% year-on-year, while sales held steady with a 0.1% increase to THB 31.1 billion (€820 million) compared to the first quarter of 2020.