Koppernæs AS increased their engagement in one of Europe's largest producers of fish meal and fish oil, TripleNine Group A/S, by taking over 63%of the shares in Triple Fish A/S, one of the two 50% shareholders in TripleNine Group.
After nearly 100 years as a leading producer of fish meal and fish oil, Koppernæs AS, Ålesund, Norway, continuesan expansion strategy that in 2013 led to a mergerwith the Danish company TripleNine A/S in the 50/50 owned TripleNine Group A/S –one of Europe's largest producers of fish meal and fish oil, based in Esbjerg, Denmark.Koppernæs AS purchased 63% of the shares in the Danish company Triple Fish A/S with effect on October 6, 2016.
Triple Fish A/S owns 50% of TripleNine Group A/S, and with the purchase, Koppernæs becomes a majority owner of TripleNine Group. TripleNine Group has subsidiaries and production facilities in Denmark, Norway and Chile.
CEO Kenneth Lande Klokk, Koppernæs AS, emphasises that TripleNine Group will continue business as usual, and that they will continue to invest in supporting and developing the production in Denmark as in the other two factories of the group:-We are very satisfied with the positive development of the business and sincerely happy that the Danish shareholders wantedto sell to us. Especially because they also continue as fellow owners. In this way, we have found an optimal solution that "keeps it in the family".According to the board's chairman, Anker Mejnertz, there was nothing to prevent Triple Fish A/S from being able to continue without changes in the ownership.
But he also comments that –although the process was pushed forward –it is completely natural, because the share capital belongs to owners with a longer time horizon as well as many, especially older, co-owners, who already at the time of the merger with Koppernæs indicated that within a few years they would sell their shares:-When a number of shareholders then choose to sell now, there are several causes.
First, TripleNine Group and thereby Triple Fish has had a tailwind, which is reflected in the interest in the shares, and second, the board consideredthat it would be an advantage for TripleNine Group's development to have a majority owner, and who would be a more natural choice than the co-owner. -In addition, our partnership with the Norwegians has been very successful, so we areconfident that they, now as an active owner, will ensure long term continuity and strength, boosting TripleNine Group as a whole, including the suppliers for the factory in Thyborøn.
Further information:CEO, Koppernæs AS, Kenneth Lande Klokk: +47 97724918Chairman of the board, Triple Fish A/S, Anker Mejnertz: +45 40150999