The shareholders of Sykes Seafood (“Sykes”) and Dutch Seafood Company (“DSC”) are delighted to announce that they have reached an agreement for Sykes to acquire Klaas Puul, the shrimp activities of DSC (the “Transaction”).
The Transaction is expected to be completed by the end of February 2020 with the two businesses working together with immediate effect to ensure a smooth transition for Klaas Puul, to the benefit of its customers, suppliers and employees. The Transaction will allow DSC to focus on accelerating the growth of Foppen, the (smoked) salmon activities of DSC. Klaas Puul was founded by a much-respected entrepreneur from Volendam, Evert Mooijer who through his unique vision and determination, created one of Europe’s largest seafood processing companies.
More recently under DSC’s ownership, Klaas Puul has continued to grow and has benefited from substantial capital investment to further support its infrastructure within its state-of-the-art processing factories in Volendam, Edam and Tangier (Morocco). The combination of Sykes Seafood and Klaas Puul will create a €300m pan-European seafood business with expertise in all species of shrimp that will offer customers across Europe a wide range of high-quality products in chilled and frozen formats for the Retail, Foodservice and Manufacturing sectors.
Sykes Seafood is a UK-based, privately owned company, focused on providing customers with quality seafood which is sourced sustainably to the highest technical standards. Sykes Seafood recognises the strength of Klaas Puul’s brand, trusted reputation and loyal employees who have helped to build a market-leading business in Europe, which compliments Sykes’ operations in the UK.
Sykes has long admired the Klaas Puul business and the work done by the Mooijer family and latterly DSC. The two businesses already share many synergies and similarities, and the joining of the two businesses will provide a solid background for future growth and allow greater efficiencies in sourcing and production expertise. Both businesses operate highly efficient and automated production facilities which are configured for high-quality and high-volume production outputs.
The Sykes Seafood management team very much look forward to working with Klaas Puul’s customers, suppliers and employees to continue to build a respected, progressive business that supports our industry for years to come. The Transaction is, amongst others, subject to works council and required regulatory approvals.