Japanese Firm Kyokuyo Acquires Dutch Seafood Processing Company

On June 14, 2024, the renowned Japanese seafood company Kyokuyo officially announced that it has successfully acquired the Dutch seafood processing company N.S.F. Holding, and plans to incorporate its premium brand Northseafood Holland into Kyokuyo's European business portfolio. The financial details of the transaction were not disclosed. The seller's advisory services were provided by the specialized investment firm Squarefield in the food and agriculture sector.

Kyokuyo stated that the company has always adhered to the strategic concept of "overseas production, overseas consumption," aiming to optimize the layout of its overseas production facilities and actively expand its international market operations. As an important center for seafood processing and export in Europe, the Netherlands, with its abundant fishery resources and developed processing industry, holds significant importance for Kyokuyo's global business strategy.

Since its establishment in 1982, Northseafood Holland has been dedicated to the procurement, processing, and sales of whitefish and other seafood products. Its frozen products are not only popular in the Dutch domestic market but are also widely distributed across other European regions. This acquisition will further strengthen Kyokuyo's position in the European market and bring more business growth opportunities.

It is worth mentioning that Kyokuyo has been implementing a series of strategic layouts globally in recent years. In January this year, the company successfully acquired a majority stake in the Turkish processing firm Kocaman; in 2022, it established a new processing plant in Vietnam; and in 2023, it launched a surimi business in the state of Washington, USA. Moreover, in April this year, Kyokuyo formed a joint venture with the Canadian seafood supplier Clear Ocean seafood to promote and sell Japanese scallops in the North American market.

Looking ahead, Kyokuyo expects that through global business expansion and resource optimization integration, its consolidated net sales will increase to 400 billion yen in the fiscal year 2026, a 52% growth from the 2023-24 fiscal year baseline. According to the company's latest three-year medium-term management plan, Kyokuyo's overseas sales ratio will be raised from 9% in 2023 to 15% by March 2027, further demonstrating its leading position in the global seafood market.