GBC, owner of Morubel nv, and Peter Ristic, owner of Ristic AG, based in Germany announced today that they have reached an agreement for the acquisition of all outstanding shares of Ristic and the Costa Rican entities by GBC. After completion of the transaction and approval of the relevant authorities, Morubel and Ristic will join forces and become the leading party in the European frozen shrimp market with a unique sustainability proposition.
The activities of both companies are highly complementary: Ristic has a solid position in farmed shrimp, with own production facilities in Costa Rica and Morubel is leading in the segment of wild-caught shrimp. But there is also a perfect match in their business approach: for both companies sustainability forms an integral part of business policies. The combination of Morubel and Ristic activities will therefore give customers and consumers better access to a broader variety of sustainable and responsible products. Since both companies offer their products mainly under private label, practical implications for customers are rather limited. Moreover the different company brand names will be maintained.
Ristic employs approximately 275 people in Oberferrieden in Germany and the companies in Costa Rica. Morubel in Oostende, Belgium employs 107 people.
The new combination will be led by Edo Abels, the current CEO of Morubel. Ristic founder and majority shareholder Peter Ristic will stay on as Managing Director of Ristic AG.
Closing of the transaction is still subject to approval of the relevant authorities and may be expected in the second half of March 2016