双日 acquired UK seafood processing and distribution company SFIH to tap demand for whitefish in Europe. Following the acquisition, NESI became a consolidated subsidiary, and the SFIH group is considering a future name change.
双日 announced that it had acquired SFIH, a UK company engaged in seafood processing and distribution. The purchase price was not disclosed. The aim is to expand its seafood business overseas by securing a supply chain for whitefish, demand for which is growing in Europe.
As a result of the acquisition, NESI, a subsidiary of SFIH, became a consolidated subsidiary. NESI's main products are whitefish such as cod, wild Alaskan salmon and sashimi-grade tuna, and it has a high share of sales to mass retailers in the UK.
The SFIH group plans to change its name to Sojitz Seafood International Holdings in the future. It has raw-material procurement bases in Norway and Iceland and an integrated structure covering product development through sales.
The UK seafood market is estimated to be worth approximately ¥900 billion, and demand for Japanese food is also expected to grow. 双日 plans to develop markets in Europe and North America while pursuing joint seafood procurement and expanding sales channels.