FRANCE: Iceland’s Alfesca acquires shrimp specialist Adrimex
Iceland-based food group Alfesca has acquired French shrimp specialist Adrimex for an estimated EUR 21.2m (US$27.9m).
Owned by the Adrien group, Adrimex has two processing plants in the Nantes region of France employing 118 staff. It reported an EBITDA of EUR3.5m for the financial year ending 30 September, 2006, from a turnover of EUR56.4m.
The company generates 90% of its sales from value-added packaged and processed shrimps which are sold in small-size units at supermarket outlets.
Family firm Adrien has decided to pull out of the segment - which requires important investment to finance growth and is attracting new operators - in order to put greater focus on its aquaculture activities, in particular, Giga Oyster spat.
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