Feb. 26. 2014 Marubeni Corporation
Marubeni Corporation (“Marubeni”) is pleased to announce its agreement to acquire an American seafood distributor, Eastern Fish Company (“EFC”).
EFC is one of the largest shrimp importers in the U.S., and has an established long-term business with US major retail chains and foodservice businesses. Worldwide shrimp consumption has been increasing in recent years and the acquisition of EFC will increase Marubeni’s sales of shrimp in Japan and the US to JPY 50 billion.
With a larger volume purchases, Marubeni can get better pricing and strengthen its relationships with major shrimp producers in Asia and South America. Even with the tight shrimp supply caused by a shrimp disease in recent years, Marubeni will secure steady supply of shrimp for Japanese market.
In addition to increased supply of shrimp, the EFC acquisition will expand Marubeni’s sales of other seafood items, including salmon. By utilizing Marubeni’s strong farmed and wild seafood market resources, EFC will become a complete seafood distributor.
As an industry leader, Marubeni has completed following M&A acquisitions to accompany world population increase, changes in diet and strong seafood demands. - Financial Year 2011: Acquisition of Alaskan Salmon processor “Red Salmon” as a part of North Pacific Seafoods, Inc. - Financial Year 2012: Acquisition of European Seafood Company “Welmar Europe B.V.” - Financial Year 2013: Announced of strategic alliance with a major Shrimp processor in Thailand “Seafresh Industry Public Company.”
Once the acquisition of EFC is completed, Marubeni will build a global sales network covering Japan, Europe and United States. 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.
[Overview of EFC] Headquarter: 300 Frank W. Burr Blvd., Suite 30, Teaneck, New Jersey 07666 Sales volume: 380 million USD Representative: Eric Bloom Business: Mainly import and sales of Shrimp and other seafood products Seafood products: Shrimp, Crab and Scallop, etc.