ALBO is located in Vigo, a seaport city in northwestern Spain. It mainly produce canned fish products, salted fish products and other kinds of canned and salted food product. It also carries out fish catching and other similar and derivative business operations. ALBO is the leading enterprise producing canned fish product and instant tuna product in Spain, whose popularity and market share ranks top thee in Spain.
The acquisition of ALBO is the achievement made by Kaichuang who speeds up the implementation of the national marine strategy and expand its tuna industrial chain. It’s the outcome that it grasps the opportunity to carry out overseas acquisition, which symbolizes that the company’s developed from single fish catching to deep processing of seafood. Entering into European end market and realizing integral business operation both in land and ocean will strengthen Kaichuang’s profitability and anti-risk capability.
The acquisition features three characteristics:
Normalized operation
The acquisition of ALBO strictly follows the overseas acquisition policies and approval processes regarding state-owned listed enterprise, which is governed by applicable local law. Kaichuang employs both domestic and overseas professional intermediary agencies to help it carry out business, law and finance investigation, and lay out acquisition patter and procedures, overcoming mountains of difficulties.
Localized management
Apart from its board of directors controlled by Chinese personnel, the acquired ALBO still employs its former executives and department managers, follows its mature and effective salary-related management, and retains its staff set and function and internal management system, which ensures the stable transition of shareholding, business and operation.
Specialized Operation
Kaichuang sets up a special transition group to deal with the transition staff, and they successfully completes the relevant transition works before the shareholding rights transfer, clearing the last obstacles to shareholding rights transfer.
The smooth acquisition of ALBO is another successful case of “industry expansion & product return”. The near hundred of high-quality products produced by ALBO will increase and optimize the quantity and product structure of products returning to Chinese domestic market, one step further towards world-class deepsea fisheries enterprise operating transnational seafood businesses.
