Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Chinese soy sauce maker Jiajia seeks to expand business and attract high range food market. (Image: Jiajia Food Group)

Soy sauce maker purchases tuna fishing firm for USD 710 million

Click on the flag for more information about China CHINA
Thursday, July 12, 2018, 23:30 (GMT + 9)

Leading soy sauce maker Jiajia Food Group has invested CNY 4.7 billion (USD 710 million) in the purchase of a specialized tuna fishing company as part of the firm’s efforts to diversify its business.

As part of the deal, the Hunan-based firm will acquire a 100 per cent stake in Dalian Ocean Fishing Company (DOF) through cash and stock deals with 14 shareholders, Yicai Global reported.

Jiajia’s secretary Peng Jie pointed out that the firm aims to expand into the big food sector through the acquisition, adding that the company wants to appeal to the high-end market and break away from the restricted development associated with a unified product line-up.

It is hoped that the acquisition of DOF will help the firm to improve on its business performance, given that China’s tuna market is rapidly developing with the China Fisheries Association (CFA) anticipating that demand will reach CNY7 billion this year, which represents an annual compound growth rate of over 30 per cent.

Yicai Global noted that DOF posted revenues of CNY 760 million (USD 113.9 million) in 2017 and net earnings for CNY 340 million (USD 51 million).

Peng said that Jiajia aims to create synergies with DOF in the development of derivative foods, such as fishmeal, fish oil, and canned tuna and explained that tuna is used as an ingredient in the fermentation of some high-end soy sauce in Japan.

Shen Ming, executive director at Chanson Capital stated that with this acquisition, DOF may have found a solution to a shortage of funding that has affected its development. Previously, the firm made two unsuccessful forays into the capital market.

Set up in 2000, DOF operates a fleet of 31 ultra-low temperature longline fishing vessels, making it the largest tuna fishing company in the country. Over 80 per cent of sales in the past two years have been to Japan’s Toyo Refrigeration, making it the largest Chinese supplier of high-end tuna in the Japanese market.
 
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Peru
Jul 18, 02:10 (GMT + 9):
EU sanitary authority approves control systems for bivalve mollusks
United States
Jul 18, 02:10 (GMT + 9):
Immigrant visa cap crushes Texas shrimp industry
Jamaica
Jul 18, 01:20 (GMT + 9):
US-China trade battle could benefit Jamaican lobster exporters
Rwanda
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Fish farmers decry lack of quality, affordable fish feeds
India
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Fishermen unhappy over poor fish catch
Republic of Ireland
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Thirteen hospitalised after fish factory gas leak
United States
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Are Chesapeake Bay dolphins eating all the fish?
Republic of Ireland
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Over 10,000 protected lamprey fish killed in suspected chemical poisoning
Australia
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Salmon return to destocked Macquarie Harbour Franklin lease after environmental tick
United Kingdom
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Kilkeel fish plant: Two 'stable' after ammonia leak
South Africa
Jul 18, 01:00 (GMT + 9):
Fishing vessel detained under ILO convention
Spain
Jul 18, 00:00 (GMT + 9):
Environmental organizations call for Iberian sardine recovery plan
Viet Nam
Jul 17, 23:50 (GMT + 9):
Brazil attracts Việtnamese seafood exporters' attention
Spain
Jul 17, 23:00 (GMT + 9):
Andalusia approves new fisheries trade decree
European Union
Jul 17, 22:40 (GMT + 9):
EU and Japan sign free trade agreement



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Illegal salmon nets seized in Donegal
United Kingdom Inland Fisheries Ireland has seized 26 untagged salmon in the Glenties area in Donegal and 1100 yards of illegal salmon drift nets off Inishbeg Island.
Post-Brexit UK's fishing proposals promote sustainability
United Kingdom The UK government has released its proposals for the future trade with the European Union after leaving the bloc, next March.
Hvalur hf accused of slaughtering blue whale, angering marine conservationists
Iceland An Icelandic anti-whaling group has accused company Hvalur hf of slaughtering an endangered blue whale in the fjord of Hvalfjordur, which sparked anger among marine conservationists.
Friend of the Sea praises Sri Lanka’s tuna processor for yellowfin tuna conservation efforts
Sri Lanka Non-government organisation Friend of the Sea awarded a Sri Lanka’s tuna processor for its commitment towards yellowfin tuna conservation in the Indian Ocean.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER