Cité Marine, which specialises in private-label, breadcrumb-coated fish products, is in exclusive negotiations to acquire Brittany-based counterpart, Halieutis Fish & Co.
The value of the transaction has not been disclosed. A deal is expected to be completed by the summer, a spokesperson for Cité Marine told just-food today (20 April).
With an annual turnover of EUR30m (US$32.3m) and employing more than 80 staff, Halieutis Fish was put up for sale by parent company, Roullier, which no longer considered it a strategic asset.
Cité Marine’s interest in Halieutis Fish stems from the fact it has a frozen fish and seafood product range complementary to its own. The two companies are also located close to each other, the spokesperson said.
Majority-owned by Japanese group Nissui since 2007, Cité Marine is also investing EUR13m in a new production plant at its headquarters in Kervignac, due to growing demand for its breadcrumb-coated fish products, the spokesperson added.