Eight Fifty Food Group acquires Greenland Seafood in Germany

Young’s Seafood parent company Eight Fifty Food Group has reportedly acquired Germany’s AliSa International, which is doing business as Greenland Seafood.

Greenland Seafood is one of the largest frozen seafood providers in Europe, with processing facilities in France and Germany.

The company employs nearly 600 people at these two facilities.

Financial details of the deal remain undivulged.

Eight Fifty Food Group CEO Di Walker said: “We have long been impressed with Greenland Seafoods’ strong track record, expertise in frozen seafood and long-standing relationships with its customers across Germany, France, and the rest of mainland Europe.

“We’re delighted to welcome Greenland into the Eight Fifty Food Group and look forward to continuing our growth journey with them as part of our expanding portfolio.”

By acquiring, Greenland Seafood, Eight Fifty Food Group, controlled by CapVest Partners, intends to strengthen its presence in mainland Europe.

Additionally, the deal could also complement its Young’s Seafood company located in the UK.

Completion of the deal is subject to standard closing conditions, as well as approval from the German, French, and Polish competition authorities.

Under the agreement, Greenland Seafood’s team members Allan Jensen and Patrick Barinet will continue their association with the company upon deal completion.

CapVest partner Jason Rodrigues said: “The Greenland Seafood acquisition signifies a major step for Eight Fifty Food Group into mainland Europe.

“This transaction is consistent with our ambitious strategy to pursue acquisition-led growth opportunities aimed at positioning Eight Fifty as a market-leading European food group.”

“Greenland has the potential to serve as Eight Fifty’s platform for further acquisitions in European seafood as well as other complementary products.”

In May, Eight Fifty Food Group announced that it will acquire M&M Walshe, an Ireland-based business that delivers pork, bacon and sous-vide meat.

M&M Walshe is a family-run group established in 1981. According to its website, the company sells its products in 16 European countries and recently forayed into Asia and Africa.