Tokyo-listed seafood company Kyokuyo has bought a majority interest in Northseafood Holland as part of its strategy to establish an overseas processing presence.
The undisclosed stake has been acquired through the Netherlands holding business NSF Holding, the financial terms of which were not revealed in a statement from the Japanese firm.
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NS Holland, as the Dutch business is known, will trade as a subsidiary of Kyokuyo Europe. The deal adds to the majority holding the Japanese parent company took in Turkey’s Kocaman Fisheries Export and Import Trade in January.
Established in 1981, Kocaman supplies fresh and frozen seafood and in 2022 posted an annual turnover of €13.9m ($15m).
“Kyokuyo will expand its European food production bases and pursue economies of scale by expanding the handling of marine raw materials by processing the raw materials we procure from around the world at NS Holland,” the company explained.
“In addition, synergies in sales capabilities are expected from the reciprocal use of the sales networks of the company and Kocaman in Turkey.”
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By GlobalDataWith a factory in Urk, NS Holland is engaged in fishing through to processing and packaging of fresh seafood for the retail and foodservice channels and also supplies to B2B customers.
The company serves private-label accounts but also offers its own Deliz brand, including value-added products such as breaded fish.
Set up in 1982, the Netherlands business supplies the local and other European markets.
Founded in 1937, the Kyokuyo group includes the Japanese affiliates Kyokuyo Suisan, Kyokuyo Fresh, Kyokuyo Shokuhin and Kyokuyo Foods, along with Thailand-based Kyokuyo Global Seafoods.
It owns the seafood brands Sea Marché and Dandori Jozu, with the latter also offering meat products.
In the year to 31 March, Kyokuyo posted a 3.9% decrease in net sales to Y261.6bn ($1.6bn).
Operating profit increased 7.3% to Y8.8bn, while net profit attributable to shareholders rose 2.6% to Y5.9bn.
