Friday, 22 March 2019 13:07

Latvia: Canning major acquires prestigious German brand

EM2 19 News Int Karavela DSC0380Karavela, a Latvian producer of canned fish products has acquired Larsen Danish Seafood, a German company also specialised in canned seafood. The acquisition gives Karavela a brand that is highly visible on the German and Danish markets and is well represented in many of the big retail chains, reports Dienas Bizness, a Latvian website for business news. The manufacturing equipment has been transferred to Karavela’s plant in Riga to ensure the continued production of the entire Larsen Danish assortment, which includes products based on Atlantic mackerel, herring, salmon, smoked herring and trout. Karavela has been eyeing Larsen Danish since 2014, said Andris Bite, a member of the Karavela board, as like Karavela, it is a highly innovative company. We could also assure the former owners that we would continue the established Larsen Danish traditions and honour any previously concluded agreements, he added. Karavela will continue to buy raw materials from the former owners of Larsen Danish Seafood. Janis Endele, the marketing director at Karavela, plans to reach 5-7% of the German market for canned fish over the next two years and in 2019 alone expects the new acquisition to boost turnover by approximately EUR4m. The Larsen Danish name will join Karavela’s existing brands Kaija and Arnold Sørensen. Karavela also exports a large part of its production under private label to markets in Scandinavia, the UK and Germany.