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Marine Harvest, Angulas Aguinaga salmon brand quadruples presence in Spanish retail

30/10/2014

Olav’s, the joint brand launched by Norwegian salmon farmer Marine Harvest and Spanish processor Angulas Aguinaga a year ago, is now present in 100 stores across Spain, reported the trade news website Alimarket.

This means the joint venture, launched by the companies in 2013, has quadrupled since the first products hit the shelves in November last year.

Maiko van der Meer, the managing director of Marine Harvest’s Bruges, Belgium-based Value Added Processing (VAP) Europe division, told Undercurrent News at the time that the brand was launching in 25 stores in the Madrid area in November 2013.

According to Alimarket, the brand is now present in 100 national stores from El Corte Ingles, Carrefour, Eroski and Uvesco.

These retailers are selling, so far, two references of packed fresh salmon — tenderloins and fillets, it said.

“The development is being very satisfactory, […]with positive results,” Marine Harvest management told Alimarket.

“This is a new and unique product in the market, skin-packaged, of 100% fresh salmon, natural and without sauces,” the company said.

Equipment from Marine Harvest was moved into Angulas Aguinaga’s plant in Burgos, where the Olav’s products are processed and packed.

Angulas Aguinaga clients’ network for its brands such as its baby eel substitute range La Gula de Norte and fresh surimi sticks Krissia has been key to introduce the new products in Spanish retail.

The alliance is a key step to achieving high manufacturing volumes to reduce structural costs, Angulas Aguinaga said.

In November 2013, Angulas Aguinaga told Undercurrent that a Rabobank-led pool of eight lenders (Santander, CaixaBank and BBVA among them) had accorded a refinancing of loans set to be repaid in June of 2014.

“Angulas Aguinaga has closed the negotiation so it can make new investments and develop its business plan”, the Basque company said at the time.

The unfavorable economic climate in Spain hit Angulas Aguinaga hard, up to the point that the Spanish processor announced the reduction of its brand portfolio in an attempt to cut waste.

In September last year, Angulas Aguinaga told Alimarket that its main factory in Guipuzkoa, Spain, had a turnover of €63 million last year, 3.8% lower than in 2011.

Turnover dropped strongly in its plant in Burgos, a staggering 30%, resulting in only €20m.

Angulas Aguinaga told Undercurrent it expects a €90m turnover this year, for the entire company.

UNDERCURRENTNEWS

Marine Harvest, Angulas Aguinana salmon brand quadruples presence in Spanish retail