Morpol acquires Brookside Products Limited in UK
Morpol ASA has acquired 100% of Brookside Products Limited, a processor of smoked salmon based in Cumbria, UK. The annual production capacity of Brookside is about 1.500 tonnes finished products. Expected turnover for 2010 is GBP 12 million, reports www.megafishnet.com with reference to Morpol.
The total transaction is settled by a combination of cash and an earn-out clause with a maximum transaction price of below GBP 1 million.
Brookside Products currently has an estimated market share of 10% of the UK smoked salmon market. Morpol will use Brookside as a platform to further strengthen its position in this important market.
"Through the combination of recent farming acquisitions in Scotland and this important step into smoked salmon processing within the UK, we now have an excellent base where we can further penetrate not only the UK market, but also other European markets" says Mr Jerzy Malek, CEO of Morpol.