Nippon Suisan Kaisha (Nissui) has taken a 60 percent stake in a Germany-based holding company headed by former CEO of Icelandic Group, Finnbogi Baldvinsson (pictured).
The Japanese giant -- which is forecasting annual sales of ¥525 billion (€5.2 billion/$6.9 billion) for its 2011 financial year – has taken a 60 percent interest in Leuchtturm Beteiligungs- und Holding Germany.
IntraFishbroke the story on Feb. 2. By 2013, the group is targeting a turnover of €100 million, according to information sent to IntraFish.
Nissui is investing in Leuchtturm, which is the holding company for The Seafood Traders (TST) and The Seafood Processor (TSP), along with Beacon Holding, which is made up of management and some Icelandic investors.
TSP and TST will process and sell value-added seafood products, such as fish fingers and coated whitefish products, as well as market products from other Nissui subsidiaries such as Cite Marine of France and Unisea in the United States.
