Japanese business group Maruha Nichiro is taking a stake in Spain-based Inlet Seafish, a producer of frozen seafood, sushi, sashimi and vegetables.

Maruha Nichiro, which has seafood operations within its own empire, is investing in a 33% holding for an undisclosed amount via its subsidiary, Seafood Connection in the Netherlands, with an option to take a majority stake within the next two years.

Seafood Connection, which disclosed the details of the deal on its website, has been owned by Maruha Nichiro since 2013 and supplies frozen seafood products to retailers, foodservice channels, wholesalers and food processors.  

Valencia-based Inlet Seafish is described as a “significant player in frozen seafood products”, mainly supplying the Spanish market. The company has offices in India, Vietnam, China and Iceland, used for purchasing but also inspection and monitoring.

Jan Kaptijn, Seafood Connection’s chief executive, said the deal for Inlet Seafish will “strengthen” its position in the Spanish market.

Last year, Seafood Connection acquired the frozen seafood assets of Anova Seafood, also of the Netherlands, under the auspices of Maruha Nichiro, to bolster its sourcing, processing and sales activities. And in 2017, the company took full-ownership of fellow seafood business Weerstand Beheer

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By GlobalData