Parlevliet & Van der Plas acquires Profish

Squarefield acted as exclusive financial advisor to Parlevliet & Van der Plas on the acquisition of first a strategic stake, and subsequently all of the remaining shares, in Profish.

On 12 March 2019, our client Parlevliet & Van der Plas (“P&P”) through its subsidiary Heiploeg International (“Heiploeg”) have entered into a strategic partnership regarding Profish Foof (“Profish” or the “Company”). Under the partnership, Profish becomes a joint venture that is re-capitalized by both parties enabling the necessary investments and improving the competences of the company. Arm’s length supply agreements as well as an agency agreement regarding the distribution of Profish’ products in Germany through Heiploeg, are important elements of the partnership.

The new combination will use the respective strengths in processing, sales and distribution of fresh fish and fish concepts of both companies. Profish and Heiploeg will combine their high-quality products, new product development, commercial networks and distribution capabilities, to provide innovative products to their clients effectively.

In August 2019 P&P acquired all of the remaining shares to become owner of 100% of the shares in Profish.

Profish

Profish is a Dutch processor, packager and supplier of pre-packed seafood based in Twello, the Netherlands. The Company has a strong position in the Dutch and German retail sectors, with its core products being salmon, cod, shrimp and whitefish delivered fresh, smoked or in ready meal component form.

Parlevliet & Van der Plas / Heiploeg

P&P, based in Katwijk in the Netherlands, has been managed by the Parlevliet and Van der Plas families for over 60 years, and employs more than 6,000 people around the world in fishing on over 40 fishing vessels and in processing plants. P&P is also the owner of German-based fish processing and distribution company Deutsche See. Heiploeg is the leading supplier in Europe of a wide range of high-quality shrimp products distributed through retail and foodservice, wholesalers and food processing companies.

2019