The investment from Mitsui & Co in Mark Foods shows large, global groups are realizing acquiring or investing in a US distributors is the fastest way to get access to the market, said the advisor to the giant Japanese conglomerate on the deal.
“Global companies are realizing it takes a lifetime to build a market position in the US. The only way to achieve a strong position in the US market is through partnership or an acquisition of a well-established company,” Birgir Brynjolfsson of Antarctica Advisors, who worked as the exclusive advisor to Mitsui on the deal, told Undercurrent News.
Mitsui, which has also has minority stakes in the salmon farming arm of Chile’s Multiexport Foods and Vietnamese shrimp supplier Minh Phu Seafood, already has a US operation involved in the food sector.
US seafood companies may have a window.
President Trump’s increasingly tough stance on trade is worrying many US seafood industry players, as it does not necessarily consider that some 85-90 percent of the seafood we consume in this country is imported. Increasing barriers to imports many result in higher raw material costs, lower profitability, a slowdown in revenue growth and, consequently, a potential general decrease in Enterprise Values (EV) for those companies exposed to these possible regulatory challenges.
Son negocios en expansión con generación constante de caja, de ahí que sean atractivos para este tipo de sociedades.
La comercialización de productos del mar está al alza en Europa (por la recuperación del consumo tras la crisis), Estados Unidos (con nuevos formatos) y Asia (por una creciente clase media en China). En Galicia es una industria muy atomizada pese a que las Rías Baixas concentran la mayor capacidad productiva de la eurozona. Aún así, solo Nueva Pescanova figuraba entre las top 100 del mundo, un ránking al que ha entrado Ibérica de Congelados (Iberconsa) tras la compra por esta última de la argentina pesquera Santa Cruz. Ninguna de ellas está en manos de industriales de la pesca; la primera es propiedad de la banca acreedora, que ya ha iniciado contactos para desinvertir, y la segunda está en manos (en un 55%) del fondo Portobello Capital.
BOSTON, Massachusetts, US — There’s a lot of factors in the seafood sector right now that would suggest the pace of mergers and acquisitions (M&A) is destined to heat up soon.
But for all of the talk, the pace of US seafood dealmaking slowed in 2017, at least for ‘announced’ deals, according to a recent presentation made by bankers and deal advisors speaking at an M&A panel at the Boston seafood show.
March 16, 2018 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Mitsui & Co (U.S.A.) in a strategic partnership transaction with Mark Foods, a New York-based importer and marketer of quality seafood products to high-end retailers, distributors, and restaurant groups in the U.S.
Mitsui & Co (U.S.A.) is the U.S. subsidiary of Mitsui & Co Ltd, one of the largest general trading companies in Japan and publicly traded on the Tokyo Stock Exchange with $100 billion dollars in total assets. The group owns considerable seafood resources worldwide, including shrimp farming operations in Asia and salmon farming operations in South America.
Featuring Ignacio Kleiman, Managing Partner – Antarctica Advisors
The economic landscape for the global seafood industry is shaped not only by trends in the marketplace, but also by access to resources and financial capital. SeafoodSource is convening a panel of experts to discuss the challenges the industry faces and the opportunities presented by shifting interest rates, mergers and acquisitions and the forces of supply and demand.
Get ready for three chaotic days. Here’s a look at new product innovations for the expo don’t forget to join the IntraFish Leadership Breakfast in Boston.
The Boston Seafood Show is upon us once more. Here’s a preview of what’s rolling out for the expo.
Also, join us in Boston for the IntraFish Leadership Breakfast “Markets, Sustainability and Leadership: Creating the Future of the Latin American Shrimp Industry.”
The program includes presentations, discussions and unrivaled networking March 12.There will be executives from Skretting, Rabobank, Antarctica Advisors, WWF and Ecuador’s National Chamber of Aquaculture and more.
A global æshing and processing company based in the Netherlands has made an investment in US supplier Stavis Seafoods, the newly promoted CEO of the latter conærmed to Undercurrent News.
On Wednesday, importer and processor Stavis issued a statement on a “strategic partnership” with a ærm named IMV Holding, which is based in Amsterdam, the capital of the Netherlands.
Chuck Marble, the former Stavis president who the company also announced is taking over from Richard Stavis as CEO, conærmed IMV has taken an equity stake in the Boston, Massachusetts-based processor.
He declined to comment to Undercurrent on whether IMV has taken a majority or a “This partnership sits very well with the strategy and mission of Stavis Seafoods. These are two family businesses with tremendous expertise and resources in the seafood industry. We look forward to leveraging synergies to achieve the Stavis growth strategy,” Marble told Undercurrent, in a statement.
According to Stavis, IMV has vessels and processing facilities around the globe.
Ignacio Kleiman, whose ærm Antarctica Advisors was the advisor to Stavis and the family in this transaction, said the deal is a “strategic integration play” for the US processor.
‘Cases such as Pescanova will have to be defined to succeed,’ Ignacio Kleiman says.
Ignacio Kleiman, M&A advisor and managing partner at Antarctica Advisors, said there will be more consolidation in the global fishing industry if it wants to achieve better efficiency, capital and management, reports Faro de Vigo.
“To trade perishable goods, such as fishery products, with the added complexity that it is for food, has many obstacles,” Kleiman said. “It requires a certain level of sophistication.”
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