Fish farming: Lerøy acquires Dutch interests

The Norwegian Lerøy Seafood Group ASA (LSG) has agreed to purchase 50.1% of the shares in Rode Beheer BV (Rode) in The Netherlands for EUR 15.0 million.

Rode is one of the leading producers of processed seafood in The Netherlands, including a wide range of smoked, marinated and freshly packed products, as well as frozen products
manufactured using Norwegian salmon.

LSG says in a prss release that with its well established customer network
within European grocery chains, as well as airline and other large-scale
catering operations, Rode is a company that fits well with LSG's strategy to
develop the Group's global sales network.

In 2010 Rode had a turnover of MEUR 50.6 with an operating profit of MEUR 3.9 and profit after tax of MEUR 2.8. The company has 87 employees and is located in the town of Urk. LSG and Rode have been co-operative partners for many years, and LSG is looking forward to working with Rode's skilled managers in order to develop the company further.

The decision to become the majority shareholder in Rode is an important step in
the continued development of LSG's market strategy aimed at concentrating on
independent local units centrally placed in important seafood markets, LSG says.

With this, LSG says it has consolidated its position as a major actor in the market for
smoked and marinated products. It has a total capacity of more than 12,000
tonnes of finished goods and owns plants in Norway, Sweden, Turkey and now also
in The Netherlands.

(NRK/Press release)

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