Sojitz Acquires Leading U.K. Seafood Processor to Expand Global Seafood Business - Building a Strategic Hub in Europe and Strengthening Sourcing, Processing and Sales Capabilities for Customer-driven Value Creation -

Sojitz Corporation (“Sojitz”) has acquired full ownership of Sealaska Foods International Holdings Limited (“SFIH”). Related companies operating under the SFIH umbrella, such as the seafood processing and sales company New England Seafood International Limited (“NESI”), will become consolidated subsidiaries of Sojitz. Through this acquisition, Sojitz Group aims to secure new supply networks to address the high demand for white fish and other seafood products in Europe and the U.S, enhance product development and manufacturing capabilities to meet local needs, and expand its customer base in the U.K. and the rest of Europe by leveraging the strengths of each group company through a customer-driven approach that raises value across all of Sojitz’s seafood businesses.

Sojitz has years of experience in the seafood processing and wholesale business, including the company’s tuna farming and tuna processing operations. In April 2022, Sojitz Group acquired the seafood processor, The Marine Foods Corporation, followed a year later by acquisition of the frozen tuna processing company TRY Inc. in April 2023. In addition to strengthening earnings through these domestic businesses in Japan, Sojitz has expanded its business overseas through the acquisition of business such as Sushi Avenue, a U.S. takeout sushi brand, in July 2024.

Japan’s seafood market is reaching maturity, and Sojitz has positioned Europe and the U.S. as key high-growth markets for high value-added seafood offerings. Sojitz aims to realize sustainable growth in overseas markets not only by expanding Japanese-style products and industry know-how to other regions, but also by strengthening product development and manufacturing capabilities tailored to local consumer needs and business practices and building an integrated value chain that covers everything from raw material procurement to sales.

The U.K.’s seafood consumer market is worth USD 5.7 billion and forecast to demonstrate stable growth.*1 The U.K. market is seeing a growing shift towards a consumer preference for quality proteins such as fish against the backdrop of dietary changes and increased health awareness. Additionally, demand is expected to rise for convenient value-added offerings such as processed raw Ready to Eat (RTE) items and pre-seasoned Ready to Heat (RTH) items alongside increased demand for sushi and other Japanese food products. Based on the consolidation of the U.K.’s seafood processing and distribution industries and primary sales channels, Sojitz sees the U.K. market as one in which business can be efficiently expanded while meeting customer needs.

NESI boasts customer-focused product development capabilities and labor-saving processing technology and automation. The company features a lineup of sustainable products with MSC*² or ASC*³ certification and holds a significant market share in the U.K. for sales to mass retailers in product categories such as cod and other white fish, wild ALASKAN salmon, and sashimi grade tuna. SFIH Group, possesses supply networks in Norway and Iceland for sourcing white fish raw materials. Following the acquisition, SFIH Group and Sojitz Group will collaborate to improve competitiveness through joint procurement. In addition, the companies will work together to develop and sell high value-added products through joint use of each group’s product development and processing technologies and will collaborate on expanding transaction volumes through cross-selling techniques that leverage combined sales networks.

Moving forward, Sojitz will continue to pursue sustainable growth for existing businesses in the U.K. while simultaneously connecting seafood resource markets around the world in order to raise value across all of its seafood businesses.

*1: Source: Market Research Future, “UK Seafood Market Size, Industry Outlook Growth Report, 2035”
*2: Marine Stewardship Council (MSC) certification: An international certification system for wild-caught seafood from sustainable fisheries, which evaluates the sustainable use of resources and environmental responsibility.
*3: Aquaculture Stewardship Council (ASC) certification: An international certification system for farmed seafood products that evaluates farming environments and labor conditions to ensure environmental and socially responsible aquaculture practices.

Contact: Sojitz Corporation Public Relations Dept.　hodo@sojitz.com