Italian canned tuna company Bolton Group has acquired US-based Tri Marine Group’s global tuna supply chain business, for an undisclosed sum.
The transaction includes Tri Marine's trading companies, processing units, and its subsidiary, National Fisheries Developments.
The latter business comprises Cape Fisheries, Samoa Fishing Management, Tri Marine Fishing Management, Tri Marine Fish Co, Conservera de las Americas, Samoa Tuna Processors, The Tuna Store, Baja Marine Foods, Pesquera Tri Marine, and Tri Marine SA.
New Business Unit
The acquisition will result in the formation of a new business unit owned and headed by Tri Marine chief executive Renato Curto.
Bolton Group, which has held a minority share in the company since 2013, intends to keep the Tri Marine name and support its continued growth.
US-based Tri Marine is a leading supplier of sustainable tuna with numerous subsidiaries worldwide.
National Fisheries Developments and SolTuna are part of the Tri Marine Global Group of Companies.
Bolton Group is a leading player in the FMCG market, in both the food and non-food segment, operating brands such as Rio Mare, Saupiquet, and Isabel.
Estimated Turnover Growth
Bolton Group’s turnover after the acquisition is estimated to reach €2.5 billion, bringing the Milan-based company closer to market leader Thai Union.
Both Bolton Group and Tri Marine are founding members of the International Seafood Sustainability Foundation (ISSF).
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.