Japanese seafood company Marubeni Corp. announced this week an agreement to acquire American seafood distributor Eastern Fish Co., the latest in a series of acquisitions over the past four years.
Eastern Fish is an established shrimp importer into the United States. Marubeni said buying Eastern Fish gives the Japanese seafood company an outlet for shrimp it produces or buys in Asia. The company anticipates the acquisition will increase Marubeni's sales of shrimp in Japan and American to JPY 50 billion (USD 488.4 million, EUR 355.8 million).
"Even with the tight shrimp supply caused by a shrimp disease in recent years, Marubeni will secure (a) steady supply of shrimp for (the) Japanese market," the company said in a release.
Along with shrimp, Marubeni said it will sell other products through Eastern Fish, such as salmon.
"By utilizing Marubeni's strong farmed and wild seafood market resources, EFC will become a complete seafood distributor," Marubeni said.
This is the latest in a series of acquisitions by Marubeni. In 2011, it bought Alaska Salmon processor Red Salmon. A year later, the company bought European seafood company Weimar Europe, and in 2013 Marubeni formed "a strategic alliance" with Thai shrimp processor Seafresh Industry Public Co.
"Once the acquisition of EFC is completed, Marubeni will build a global sales network covering Japan, Europe and United States," the company said in its statement. "It will enjoy strong relationships with producers in Alaska, Asia, and South America, and cover the entire value added chain from production to sales of final products."
