|
With a new name, Alfesca now belongs to French capital. (Photo: Alfesca / FIS
Icelandic seafood group Alfesca taken over by food co-op
(FRANCE, 2/2/2012)
French Basque food co-operative Lur Berri announced this week that it has acquired majority control of Icelandic seafood company Alfesca. Lur Berri has swelled its shareholding from 49.9 per cent to 62.9 per cent.
Alfesca's Icelandic investors have already withdrawn from it and left it with only French capital.
Private-equity fund LBO France has taken a 33.3 per cent stake in Alfesca, now renamed Labeyrie Fine Foods. The group's management holds a 3.8 per cent stake.
The business generates an annual turnover of more than EUR 700 million -- mainly in France, Benelux, Switzerland, Italy and the UK, where the group employs over 3,000 workers at 15 industrial sites in France and the UK -- and will take Lur Berri's turnover to more than EUR 1.3 billion per year.
The new organisation will allow shareholders to extend and boost the development of the group.
President of Lur Berri Saviour Urrutiaguer and CEO Olivier Gemin welcomed this operation, which comprises a continuation of a fruitful collaboration with teams that led the two groups over a period of 10 years.
"This important development gives new impetus to the strategy of the European Lur Berri food group, which will be reinforced by Labeyrie Fine Foods' strong portfolio of brands and will strengthen Lur Berri's partnerships with its customers", commented Urrutiaguer.
Lur Berri has received backing by a pool consisting of six banking groups as well as investment funds to finance the transaction, whose value remains undisclosed.
Labeyrie Fine Foods is active in five core businesses: smoked salmon, smoked fish, caviar and fish roe; foie gras and other duck fat products; prawns, shrimps and crustaceans; specialties such as taramasalata, tzatziki and guacamole and blinis; and savory frozen pastries.
Products include smoked salmon sold under the Labeyrie brand and Delpierre shellfish. The group is also a major supplier of private-label items.
By Natalia Real
editorial@seafood.media
www.seafood.media
Information of the company:
|
Address:
|
Kringlunni 7
|
|
City:
|
Reykjavík
|
|
State/ZIP:
|
(103)
|
|
Country:
|
Iceland
|
|
Phone:
|
+354 477 7000
|
|
Fax:
|
+354 477 7001
|
|
E-Mail:
|
alfesca@alfesca.com
|
More about: 
|
|
Print
