Seafood Investor Insider: M&As continue to break records

Welcome to the Seafood Investor Insider, one of the regular features provided by the new IntraFish Business Intelligence Unit.

Each month we'll give IntraFish readers an analysis of the industry's key indicators, largest deals, share price movements and more.

Q4's Movers

Focus Deal

Faroese salmon farmer Bakkafrost started the process to buy the remaining Scottish Salmon Company (SSC) shares, about 4.5 percent.

Bakkafrost now owns 95.6 percent of the Scottish Salmon Company (SSC), after several shareholders accepted the mandatory offer for all of their shares.

Deal Flow

Just when we thought 2018 was the biggest year for merger and acquisition (M&A) activities in the seafood sector, 2019 surprised IntraFish with a listing of 77 deals altogether. That's 25 percent more than last year.

Hunting through the archives, the seafood industry was full of deals both big and small.

Earlier this year, IntraFish posted a round-up of the deals through June, which have reshaped important sectors of the industry.

Seafood Investor Insider: 20 M&As in just three months

Read more

IntraFish Senior Market Analyst Kim Tran took a look at the most significant third quarter deals, as well as the winners and the losers on the stock exchange. This comes as part of Seafood Investor Insider, one of the regular features provided by the new IntraFish Business Intelligence unit.

Here are the rest of the deals that concluded the year 2019:

--

UK-based seafood wholesaler Sykes Seafood inked a deal to acquire Dutch shrimp firm Klaas Puul. The transaction will finalize in February, however, the two companies started working together already.

--

Fully integrated aquaculture group NTS has begun the process of merging with the Froy Group, and if it is completed, NTS will become the company's largest single shareholder of Norway Royal Salmon.

--

Thai Union Group is investing in Norway-based Aegir Seafood Company, which would support the growth of the cod liver business for Thai Union's King Oscar brand.

--

Russian harvesting group Poronay bought its rival Everon in a deal that puts the company among the nation's largest pollock harvesters.

Maine's Ready Seafoods nabbed yet another lobster company, Hancock Gourmet Lobster Co.

--

Merck Animal Health, a division of US-based Merck & Co, acquired Pentair-owned Vaki, a leader in fish farming and wild fish monitoring equipment.

--

Tilapia farmer Paturi Piscicultura acquired Brazil-based Mar e Terra from Grupo Axial, to help Paturi move among Brazil's biggest tilapia producers.

--

Faroese salmon giant Bakkafrost now owns 95.6 percent of the Scottish Salmon Company (SSC), after several shareholders accepted the mandatory offer for all of their shares.

--

Badinotti Group, an Italian company making netting for aquaculture and fishing operators, on Nov. 15 acquired Croatia-based Pensito Adriatik as part of its consolidation strategy.

--

Spanish private equity-backed firm Union Martin bought a majority stake in Mauritanian fishing company Societe Mauritanienne for la Peche Industrielle.

--

Blue Star Foods Corp., through subsidiary John Keeler & Co. Inc., acquired South Carolina-based Coastal Pride Company, which specializes in importing pasteurized and fresh crabmeat primarily from Mexico and Latin America, and serving North American customers.

--

German processor All-Fish and Namibian processor Seawork will collaboratively take over the shareholding of south German seafood importer Intercont effective March 1, 2020.

--

Private equity-backed hydroacoustic technology company CageEye acquired Norwegian fish farming and cleanerfish equipment producer NorseAqua.

--

Coop Norway's acquired seafood supplier Norsk Kvalitetsmat (Norwegian Quality Food) as part of its strategy to develop its seafood business.

--

Private equity firm Broodstock Capital increased its stake in the Norwegian software solution firm Maritech to 98 percent.

--

Maine, United States-based Bangs Island Mussels acquired neighboring Calendar Island Mussels, a rival premium lines producer.

--

Wilbur-Ellis acquired US-based feed company Rangen, particularly for its potential to open up the aquaculture sector for the animal nutrition giant.

Ones to Watch

• Under Permira's new ownership, Taiwanese feed giant Grobest has growth on its mind. And while it has capacity to do this organically in most markets, it will also be pursuing mergers and acquisitions, both inside and outside Asia, CEO Samson Li told IntraFish.

• Despite not pulling the trigger on any M&As in 2019, Santa Monica Seafood CEO Roger O'Brien told IntraFish that in 2020 the company aims to have "at least one M&A deal that will geographically expand our processing and distribution business."

• South Africa-based Sea Harvest, CEO Felix Ratheb told IntraFish it's looking for acquisitions in Australia this year. It'll be interesting to see if this still holds true as the ongoing fires decimate the country.

• Faroese salmon farmer Bakkafrost started the process to buy the remaining Scottish Salmon Company (SSC) shares.

Stockwatch

Over the past six months, Bakkafrost's shares gained 30 percent, faring better than other major food companies, such as Tyson, US Foods, Kraft, Yum! Brand and Sysco.

--

The IntraFish Business Intelligence Unit provides industry-leading research on a range of topics and markets. For questions about our research or to contact our team, reach out to us at Analysis@IntraFish.com.

---