The €21.2 million ($27.9 million) deal will see Alfesca, parent company of U.K. shellfish processor Lyons Seafoods, bolstering its presence in the French market, one it sees as holding tremendous potential for growth.
Alfesca already owns the Labeyrie and Delpierre brands within France.
Over the past few years, the French market has seen strong sales growth for shellfish and seafood in general, yet France remains a fragmented industry. Alfesca believes there is tremendous potential for further growth – particularly in the value-added category, Alfesca's business development director Antony Hovanessian told IntraFish.
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