Thai Union Frozen Products Public (TUF) has signed an agreement to acquire France-based MerAlliance, for an undisclosed amount.
MerAlliance, through its production facilities in France, Scotland and Poland, produces wide range of chilled smoked fish products. It generated sales of $220m in the fiscal year ending 31 March 2014.
The transaction is said to enhance TUF's subsidiary MW Brands' position in the European market, which produces brands such as Petit Navire, John West, Parmentier, and Mareblu.
TUF president and CEO Thiraphong Chansiri said the acquisition makes perfect sense, both in terms of strategy and timing.
"The new partnership will enable us to develop further growth opportunities in chilled smoked fish specialties by building on each partner's strengths and common grounds," Chansiri added.
MW Brands CEO Elisabeth Fleurio said: "The MerAlliance acquisition represents a tremendous opportunity for MW Brands' expansion strategy and will deliver significant incremental growth. Our objective is to build on each partner's expertise and people capabilities to significantly expand into the chilled seafood category."
Subject to customary closing conditions, the transaction is expected to be completed in the fourth quarter of this year.
