EU – Baltic States, Foodstuff, Good for Business, Industry, Latvia, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Monday, 27.03.2023, 17:42

Latvian fish cannery Karavela acquires Germany’s Larsen

BC, Riga, 20.03.2019.Print version
Latvian fish cannery Karavela has concluded a deal to acquire German fish product maker Larsen Danish Seafood (Larsen), LETA was told at the company.

The German company’s production, trade and brand will be integrated into the Karavela system, they said.

Most of the German company’s production equipment have already been moved to Riga and installed at the Karavela plant to ensure a full production cycle for Larsen products. The Larsen trademark, which is widely renowned in Germany, will now exist alongside the Kaija and Arnold Sorensen trademarks, Karavela representatives said.

Larsen was the third largest fish cannery in Germany offering consumers products like Atlantic mackerel, herring, salmon, smoked herring and trout.

“Karavela has been eyeing Larsen already since 2014… Karavela will be buying ingredients for production from former Larsen Danish Seafood owners also in the future,” said Karavela board member Andris Bite.

In 2018, Karavela turned over EUR 41.6 mln, up 7% against a year before, the company’s representatives said. Karavela produced 71 mln cans of fish products which were exported to 36 countries.

Founded in 2001, Karavela is one of the largest fish canneries in the Baltic states. The company belongs to several individuals, including Janis Bite, who is the key shareholder with 56%.

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