Oghma Partners, corporate finance advisers to consumer industries, has acted as exclusive financial adviser to the shareholders of UK-based Sykes Seafood Limited (Sykes) on the acquisition of Ruskim Seafoods Limited (Ruskim).
The combination of Ruskim together with Sykes Seafood and Klaas Puul creates a USD500 million, pan-European, shrimp-focused seafood business that will offer a market-leading range of products across the retail, wholesale, industry and foodservice sectors. The combined businesses will operate from five manufacturing sites and ten distribution centres in the UK, Europe and North Africa and employ over 3,900 people.
The three businesses already share many synergies and similarities – the combination will provide a solid backdrop for future growth, allow greater efficiencies in sourcing and enable an enhanced delivery platform to customers old and new. Ruskim will have access to Sykes and Klaas Puul’s highly automated production facilities and both Sykes and Klaas Puul will benefit from access to the extensive depot and transport network at Ruskim.
Tim Owen, Partner at Oghma Partners, says: “We are delighted to be able to work with the Sykes team on the acquisition of Ruskim, and the Ruskim transaction highlights Sykes’s continued role as a key consolidator in the pan-European seafood market. The deal is Oghma Partners’ latest successful transaction within the seafood sector and demonstrates our growing reputation for working with a range of owner-operated, international businesses.”
