Procuritas Capital Investors IV LP A (PCI IV) has signed an agreement to sell King Oscar Holding A/S to Thai Union Frozen Products (TUF)
Published: 15 September 2014
Procuritas Capital Investors IV LP A (PCI IV) has signed an agreement to sell King Oscar Holding A/S to Thai Union Frozen Products (TUF), a Bangkok listed, global leading seafood company with 2013 revenues of ca.3,6 BUSD.
The transaction is subject to customary antitrust review and closing of the transaction is expected in Q4 2014.
King Oscar is a leading Norwegian canned seafood manufacturer, best known for its King Oscar Brisling Sardines which have been distributed worldwide for more than a century. King Oscar’s largest markets are found in the USA, Norway and Poland. Its headquarters are in Bergen, Norway. Manufacturing facilities are located in Gniewino, Poland and Svolvær, Norway. Total employees are ca 450. 2013 turnover was 454 MNOK with EBITDA of 51 MNOK.
Procuritas used McQueen and Castlegreen Partners as corporate finance advisers; Thommesen for legal and PWC for financial assistance.