Gebroeders Kramer, a Netherlands-based seafood processor operating as Isola Fish, has acquired local peer Fishmasters, which is owned by the country’s Kennemervis Group and produces value-added, ready-to-eat fish products.
Financial terms were not disclosed in a statement from privately-owned Gebroeders Kramer, with the transaction expected to close before the end of October.
“The purpose of the takeover is to strengthen Kramer’s competitive position in the market and the desire to further expand its activities in the product group ‘fish with added value,'” Kramer said.
Kramer/Isola Fish is headquartered in the Dutch town of Urk in Flevoland province and has operations in Spain, Italy, Greece and China.
Fishmasters, also based in Urk, produces breaded and battered fish, fish snacks and stuffed fish for foodservice customers across Europe and also retail and B2B clients. Its key markets are the UK, Ireland, Germany, Spain, Italy, Denmark, Finland and Sweden.
Kramer said the Fishmasters’ workers and plant will be retained. It has also formed a “strategic partnership” with Kennemervis (KVG) as part of the deal.
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Hein Kramer, a director at Gebr. Kramer, said: “We are proud and very happy with the transaction with KVG that enables us to realise our growth dreams. This step will significantly increase and strengthen the stable growth of recent years. In addition to our frozen activities with frying and cooking fish, we are adding a new activity that can only increase our position in retail and foodservice.”
Eugene Scholten, the CEO of KVG, added: “This transaction helps us to focus even more on realising growth for our customers in fish and vegetables and, through the collaboration with Gebr. Kramer, that we can continue to offer our customers fried and cooked fish products competitively in the future. We are proud that the Kramer family is continuing the Fishmasters’ activities and look forward to further cooperation and growth of both companies. “