Nippon Suisan Kaisha has acquired a majority stake in coated fish fillets producer Three Oceans Fish Company, adding to another UK deal struck in 2019.
The Japan-based company, also known as Nissui, struck the deal through its Nissui Europe subsidiary, headquartered in the Netherlands.
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It has bought a 75% interest in Three Oceans, which is based in the northern English city of Hull and supplies frozen fish fillets to major retailers in the UK and also foodservice customers, according to a statement, which did not disclose the financial terms.
In 2019, Nissui acquired a controlling stake in UK seafood firm Flatfish, which also supplies retail and out-of-home channels.
Two years earlier, it took over UK-based Sealord Caistor from Sealord Group, before renaming the company Caistor Seafoods.
Other European affiliates of Nissui, include seafood processor Cite Marine in France and Nordic Seafood in Denmark.
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By GlobalDataIn the year ended 31 March, Tokyo-listed Nissui reported annual sales of JPY656.4bn (US$5.9bn), a decline of 4.9% over a year earlier. Operating profit was also down, falling 20.8% to JPY18.1bn, while net profit dropped 2.1% to JPY14.4bn.
