Morpol ASA has acquired 100% of Brookside Products Limited, a processor of smoked salmon based in Cumbria, UK. The annual production capacity of Brookside is about 1.500 tonnes finished products. Expected turnover for 2010 is GBP 12 million.
The total transaction is settled by a combination of cash and an earn-out clause with a maximum transaction price of below GBP 1 million.
Brookside Products currently has an estimated market share of 10% of the UK smoked salmon market. Morpol will use Brookside as a platform to further strengthen its position in this important market.