Industry / Greece
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Demands From Retailers Prompt Consolidation In Fishing Industry
November 2007 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Greek fish-farming firm Nireus has announced that it is spinning off its confectionery unit in order to concentrate on its core fish producing activities. The confectionery unit, which the company claims is profitable, is set to be spun off for EUR7.6mn (US$11.3mn) to a wholly-owned subsidiary called Marant. The move comes at a time when the fish industry is consolidating across the globe as retailers focus on reducing their number of suppliers. The decision to divest itself of the unrelated confectionery business should make Nireus more agile as the pace of consolidation in the fish industry hots