Seagarden ASA Acquires Marine Savoury Business from Rieber & Søn ASA

“Combined with our existing market position for marine ingredients, this strengthening of our position in the savoury market makes Seagarden a leading supplier of marine ingredients globally.”

17 Nov 2009 --- Seagarden ASA and Rieber & Søn ASA, announced that Seagarden is acquiring Rieber & Søn’s comprehensive marine savoury ingredients operations. The deal marks a strategic milestone for both companies – supporting Seagarden’s position as an international leader in marine ingredients, and enabling Rieber & Søn to target significant value-added opportunities for its branded consumer products.

Under the agreement, which is effective Nov 16th, Seagarden will purchase product inventory, production equipment and technology, and access to Rieber’s distribution channels for all marine savoury ingredient product ranges. Financial details of the transaction were not disclosed.

“We see the acquisition of the Rieber & Søn’s marine savoury ingredients operations as a rational step in the business relationship between the two companies. Seagarden and Rieber have a long history of cooperation since 1994,” said Jan-Emil Johannessen, Chairman of Seagarden. “Combined with our existing market position for marine ingredients, this strengthening of our position in the savoury market makes Seagarden a leading supplier of marine ingredients globally.”

“We view this transition as a win-win for both organizations – it supports Rieber’s strategic focus on building higher value-added businesses,” said Tor Lund  “For four decades, we have valued our position as a local taste champion and supplier of marine savoury ingredients, and now feel this is the perfect opportunity to hand over the reins to such a respected industry colleague.”