Despite completing deals to expand their supply lines in Northern Europe and North America, major Asian trading giants such as Maruha Nichiro or Nippon Suisan Kaisha are unlikely to take any interest — at least for the immediate future — in buying wild catch enterprises in Spain and Latin America, top financial advisors told Undercurrent News.
Speaking on Undercurrent’s “What COVID-19 Means for Seafood M&A” webinar on June 4, Jose Antonio Zarzalejos — a partner with banking house “It’s not a coincidence that Nomura had the sales side mandate for Iberconsa. They were very clear they wanted to attract interest from Asian buyers, but that didn’t happen.”
Ignacio Kleiman, managing partner at the boutique seafood advisory firm Antarctica Advisors, echoed Zarzalejos’ thoughts on the Iberconsa sale.
“The issues that you have with Asian buyers in many cases are due to scale and often a lack of management capability,” he told Undercurrent. “Even though they are good traders and they purchase products from around the world, they do not [usually] have the management capability expertise for cross-border [deals], to go and take over a major fishing operation overseas.”