Hofseth BioCare ASA has entered into a sales and distribution agreement with Tokyo-based Alliance Seafood Ltd.
According to the agreement, Hofseth and Alliance Seafood will also set up HFS Alliance Inc., a joint sales company. The company will have its offices at Yokorei Shintomi Building in central Tokyo.
Alliance Seafood is a subsidiary of Yokohama Reito Ltd., a leading Japanese company within food distribution and related activities.
This is the conclusion of the process announced in Hofseth BioCare's stock exchange notice dated February 6.
"There is tremendous interest in high-quality seafood products and ingredients in Japan and in Asia in general, and consumers are increasingly focused on quality and purity. We are impressed by the product development that Hofseth BioCare has done, and we look forward to introducing these products to the consumers of our region," said Kiyoshi Kajikawa, Director of Alliance Seafood.
"Setting up the sales office in Japan is strategically important, as Asia is a rapidly growing market for products of the kind that Hofseth BioCare supplies. We are excited to team up with a partner that has the market knowhow and the distribution reach needed to penetrate this region. They are active across much of Asia, and we expect to launch our products in other countries besides Japan, said Jon Olav Ødegård, Chief Executive Officer of Hofseth BioCare.
For more information, please contact:
Jon Olav Ødegård, CEO Hofseth BioCare ASA
Mobile: +47 93632966
Email: joo@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, Hofseth BioCare is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. Hofseth BioCare`s objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.
About Alliance Seafood:
Alliance Seafood is involved in processing, sales, import and export of seafood and agricultural products. It is a wholly owned subsidiary of Yokohama Reito Ltd, which is listed on the Tokyo Stock Exchange. The group has 1330 employees, and its two main businesses are food sales and refrigerated warehousing. It had revenues of 142 billion yen for fiscal year 2014. Yokohama Reito was established in 1948.