Fishing vessel, The Meridian, intends to relinquish its catch.
Uni Frost Strengthens its Position in the Fish and Seafood Market with Meridian Acquisition
Uni Frost LLC, a leading fish and seafood supplier, has applied to the Federal Antimonopoly Service to acquire 100% of three legal entities belonging to the "Meridian" group: JSC "Meridian", LLC "Meridian Trading House", and LLC "Meridian-Trading". The deal, estimated by Ivan Peshkov, head of the M&A department at BGP Capital, to exceed 5 billion rubles, is expected to significantly expand Uni Frost's market presence in the fish and seafood sector.
The combined revenue of the Meridian group in 2024 amounted to 13.7 billion rubles, an increase of 12.5% year-on-year. However, net profit decreased by 58.3% year-on-year to 468.6 million rubles. In contrast, Uni Frost's net profit in 2024 increased by 88.6% to 3.4 billion rubles.
Meridian, a specialist in fish processing, operates on the basis of a Soviet enterprise of the same name, specializing in fish processing, mainly producing canned fish and ready meals. The acquisition is likely to increase Uni Frost's production capacity and distribution reach, enabling it to consolidate market share in processed seafood segments such as crab sticks and canned fish.
Following the acquisition of Meridian, Uni Frost's share in the crab sticks market is expected to reach 60%, and in canned fish, 35-40%. This expansion is expected to intensify competition, potentially allowing Uni Frost to achieve economies of scale, broaden its product portfolio, and increase influence over pricing and supply chain dynamics in these markets.
Anna Romanova, the sole owner of Uni Frost, may be considering further acquisitions, as suggested by a source on the FMCG market. Reports indicate that Uni Frost could have become the acquirer of the Russian business of the Lithuanian Viciunai Group, a producer of crab sticks.
The average profitability of the fish processing sector is estimated at 14%. In 2023, Uni Frost's shipments totaled 80,000 tons. According to calculations by "Nielsen" and the All-Russian Association of Fish Industry Enterprises, the natural sales of fish and seafood in retail from April 2024 to March 2025 increased by 4%.
Sales of herring increased by 5%, fish pastes and spreads by 9%, and the volume of frozen fish semi-finished products increased by 18% year-on-year. Uni Frost's acquisition of the Agama group in 2024, a major producer of fish, seafood, and frozen vegetables, has already bolstered its position in the market.
With the closure of the Meridian acquisition deal, Uni Frost is moving towards becoming a vertically integrated company by acquiring the production capacities of the Meridian Group. This strategic purchase positions Uni Frost as a more dominant supplier within the crab stick and canned fish markets. However, precise updated market share figures for Uni Frost post-acquisition are not publicly detailed in the available sources.
In the pursuit of expanding its influence, Uni Frost, a leading fish and seafood supplier, is planning to strengthen its presence in the processed seafood segments, specifically crab sticks and canned fish, following its acquisition of Meridian, a fish processing specialist. The acquisition is poised to boost Uni Frost's production capacity and distribution reach, potentially leading to a rise in its market share in these segments.
The expected increase in Uni Frost's market share in crab sticks and canned fish, along with possible future acquisitions, places Uni Frost in a stronger position to compete and potentially achieve economies of scale, and influence over pricing and supply chain dynamics in these markets, which are closely linked to sports nutrition due to the high demand for protein-rich food sources.
