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Snoek Wholesalers, a significant player in the distribution of fish and seafood products to the wholesale and retail trade in the nation, has been acquired by South African seafood distribution company Atlantis Foods.
The transaction is a component of Atlantis Foods’ aim to expand its commercial activities and significantly boost revenue.
Since its establishment in 1964, Snoek Wholesalers has processed and sold a wide range of seafood products, whether they are fresh, dried, smoked, or frozen. The company was originally created to process smoked snoek.
Neil Pascall, Managing Director at Atlantis Foods said, “The acquisition of Snoek Wholesales is the next step in our expansion plan and complements our business perfectly.”
Atlantis was established in 2003 and has had tremendous growth over the years. It now offers a wide variety of seafood to wholesalers, food service clients, and other significant players in the retail sector.
In 2011 and 2015, respectively, the company received investments from firms including Mascato, a Spanish fishery and marketing company, and Lonrho, a pan-African investment firm.
In 2017, the business bought Breco Seafoods, making it one of the biggest seafood distributors in South Africa.
Atlantis will now have access to a total storage capacity of more than 12,400 pallets thanks to the acquisition.
Robert Zive, who served as managing director of Snoek Wholesaler for seven years, will join Atlantis in accordance with the acquisition’s terms.
“We are delighted to join the Atlantis Foods team. They have built an incredible and industrious company that successfully operates in various market sectors. We look forward to pooling our resources and knowledge to the benefit of the business and all its stakeholders,” he said.
With a cold store in Philippi, Snoek Wholesalers today represents well-known international brands like Marfrio and Leroy in South Africa. With this store, they have considerably aided in the creation of jobs in the area.
By utilising their cold storage facility, which has a capacity of 3,900 pallets, Snoek Wholesalers has built a record for preserving supply continuity despite seasonal swings in the markets it currently services.
The corporation has also developed cross-border trading ties with nations in North and South America, Europe, Scandinavia, the Middle East, the Far East, and Australasia.