Advised on the Acquisition of the CompanyFood & Beverage
Acquired 100% of Business Operations
Huitai Investment Co Ltd of China acquired the entire share capital of Broderna Hanssons I Goteborg Export AB, a Gothenburg-based fishing establishment, from Feskarbroderna Forvaltnings AB.
Huitai Investment Group is a listed industrial conglomerate located in Binzhou, Shandong Province in China. The company has an annual turnover exceeding MEUR 200 and has over 3,000 employees. The company’s business includes a variety of industries such as crude salt production, marine chemical engineering, marine aquaculture and wind power generation.
Bröderna Hanssons i Göteborg Export is a family owned company founded in 1880 in Gothenburg, Sweden. The company produces, processes and markets fresh fish and seafood products to food wholesalers and distributors and grocery retail chains in the Nordic region. The company has had an historical strong organic growth and has since 2010 doubled its annual turnover to MEUR 44 for the fiscal year 2017 while maintaining profitability.
"This is something very positive for Bröderna Hanssons and the fish harbour. Huitai wants to scale up our business and, among other things, export to China. They want to secure the raw material to China, and it is very much about finding the right supplier for the right goods. This will also mean that we will employ more staff going forward", says Håkan Wing, CEO of Bröderna Hanssons i Göteborg Export.
The IMAP Netherlands China desk guided both the seller and buyer through the final stages of the process. IMAP Sweden advised Bröderna Hanssons on its sale strategy.