New partnership for Lübbert with Kverva Industrier AS from Norway

Press Release

It is with great pleasure to inform that F.W Lübbert GmbH & Co. KG (Lübbert) and Kverva Industrier AS Homepage (Kverva) has entered into an agreement to form a new partnership and where Kverva will be a part owner in Lübbert.

Kverva is a Norwegian based investment company, focusing on the seafoodsector with holdings in a range of companies, among others SalMar ASA, Pelagia AS and Insula AS.

A Sale and Purchase Agreement for a 45 % stake in Lübbert was signed on 31 Dec 2020. The partnership strengthens the position of Lübbert in the strategically important German market and forms the basis for further growth. Several of the companies in the Kverva portfolio have since long had a relationship with Lübbert and the partnership will support this relationship further, while maintaining the independence of the different companies in their dealings with Lübbert.

The management of Lübbert will continue as today with Mr. Sven Braasch and Mrs. Birte Tutas as managing directors (Geschäftsführer). The employees and management of Lübbert are looking forward to the future co-operation.

Kverva is a Norwegian investment company headquartered in Trondheim, focusing on the seafood sector. With ~20 bn NOK (~2.0 bn €) of sales in the portfolio companies and some less than 5.000 employees.

“The investment in Lübbert is an excellent opportunity to strengthen and further support the development for the Kverva companies in the German market. We are very happy to embark on this journey together with the Lübbert team” says Olav Holst-Dyrnes, Investment Director in Kverva.

F.W. Lübbert GmbH & Co. KG is a Bremerhaven based Seafood Company. Quote Sven Braasch: „ With Kverva at our side we have access to resources for accelerated growth. We are very excited to team up with one of the major players of the industry”.

Lübbert steps ahead in Strenght

The trading enterprise Friedrich Wilhelm Lübbert GmbH & Co. KG, with its home in Bremerhaven, has successfully sought for strong, additional partners in order to expand its business and to provide the, thus, necessary consolidation of its equity capital. Along with a significant improvement of the equity capital’s structure the new investors will take over the majority of the shares of the company.

 

According to the Managing Director, Mr. Sven Braasch, this step was needed to safeguard a successful future development of the company which for its kind of business and with regards to its turnover requires a serious level of financing. Whilst Mr. Braasch shall be responsible for operations in future, Mr. Bodo Mayerhof, Cuxhaven, will join the company as further Managing Director being in charge of the commercial interests of the company.

 

Mr. Mayerhof is, also, partner in the group of new investors. Both Sven Braasch and Bodo Mayerhof are convinced that this step is beneficial to all partners of the company. It gives a clear sign to everyone that Lübbert, in evidence, is constructing its future actively and in favour of its business relations, in particular customers and suppliers.

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