Notice of Acquisition of Shares in Northcoast Seafoods Ltd.
Entering into UK market and accelerate seafood sales in Europe

June 1, 2022

Seafood Connection Holding B.V. (Seacon), a subsidiary of Maruha Nichiro Corporation, has acquired 100% shares of Northcoast Seafoods Ltd. With this acquisition, Northcoast becomes a member of the Maruha Nichiro Group.

Northcoast Seafoods

Northcoast has an office and factory in Grimsby, UK, and sells prawns, pangasius, cod, salmon and wide range of frozen seafood products to large volume retailers and B to B businesses throughout UK. With this acquisition, Maruha Nichiro group will directly enter into UK market and accelerate further expanding its operations throughout Europe.
The UK's consumption of seafood products in Europe ranks fifth (*1) following to Italy, Spain, France and Germany. UK seafood market is expected to continue to grow due to trends represented by the Seafood 2040 Initiative (*2), a UK public initiative to promote health-consciousness and seafood consumption.

*1 Eurostat EU fishmarket 2020

*2 Seafood 2040 Initiative

1. Overview of acquisition

Acquisition of all shares (100%) in Northcoast by Seafood Connection Holding B.V.
Date of acquisition: 30th May 2022 (date of signing the agreement)
Price of shares for acquisition: not disclosed according to the terms of the agreement.

2. About Northcoast

Founded: January 2001
Owner: NIM Limited
Location: South Humberside Industrial Estate, Estate Rd No. 1, Grimsby DN312TB, UK
Number of employees: 120 (as of end-December 2021)
Business activities: Seafood trading, seafood processing
HP : http://www.northcoastseafoods.co.uk/

The Maruha Nichiro Group has set out "Strategic investment to businesses of growth driver" as a management strategy to enhance corporate value and achieve sustainable growth in its medium-term management plan “For the ocean, for life MNV 2024”(*3). And accelerate expanding operation in overseas out of Japan.
This acquisition is part of the management strategy set out in the medium-term management plan, and will promote the expansion and further growth of seafood supply chain in Europe. Seacon and its group subsidiaries are sole entrance of Maruha Nichiro group seafood supply chain into Europe and has rapidly expanded its presence throughout Europe.
With this acquisition of Northcoast, Seacon has seven subsidiaries keep its ambition to continue entering other European countries through Maruha Nichiro Group's global network.

*3 Maruha Nichiro's medium-term management plan “For the ocean, for life MNV 2024”.

Biography: recent expansion of sales in Europe by Seacon

January 2021

Acquisition of shares in Inlet Seafish S.L., became as a subsidiary

Overview of Inlet Seafish S.L.
Founded: 1993
Location: Bras de la Creu, Parcela 1-2-8, Puerto de Sagunto, Valencia, Spain
Business activities: Import and distribution of frozen seafood throughout Spain and nearby countries.
HP : https://www.inlet.es/

April 2022

Acquisition of shares in King Fish Selection B.V. and Horecagroothandel Asiatico B.V., become a subsidiary

Overview of King Fish Selection B.V. and Horecagroothandel Asiatico B.V.
Founded: 2004
Location: Lock Keeper 4, 3861 SN, Ni jkerk, The Netherlands
Business activities: Wholesale of food products, Based in the Netherlands, with a strong sales network to Asian restaurants in Germany and Benelux countries.

Contact for media inquiries:
Corporate Branding Department,
Maruha Nichiro Corporation