German trader All-Fish announced its first acquisition, together with its Namibian partner processor Seawork, for fellow German trader Intercont, on Friday.

The traders have had a customer-supplier relationship for roughly 10 years, All-Fish Managing Director Stefan Schulze told IntraFish, but Intercont opened acquisition talks with All-Fish two months ago, with the smaller company looking to safeguard its future as its current stakeholders reach retirement age.