King Oscar is number one in the premium sardine category in Norway, USA and Australia. It posted sales of AU$92 million with EBITDA margin of around 12% in 2013. It is one of the leading canned fish suppliers in Norway, USA, Poland, Belgium and Australia, with an average growth rate of 6% per annum for the past five years.
Thai Union Frozen Products Public Company entered into an agreement to acquire 100% of the assets and the trademark of King Oscar in September this year. The world’s top ten seafood brand originated in Norway more than 140 years ago. King Oscar Holding AS is owned by the private equity fund Procuritas Capital Investors IV in the Nordic Region. Closing is subject to required regulatory approvals, which are expected in Q4 2014.
In an effort to boost the popularity of its mackerel range in the meantime, King Oscar has relaunched its can with an advance opening by Ardagh. Ardagh’s Easy Peel aluminium can end is an entirely new and improved approach to can openability. Easy Peel consists of a metal ring on which an aluminium foil is heat sealed. The consumer has a safer and quicker means of opening the can, with a dramatically reduced risk of spattering its contents. It is also 50% lighter than a standard end. The can is produced at Ardagh’s metal facility in Moëlan, France.
Patrick Savouré, commercial director, Seafood, Ardagh Group’s metal division, explained, “ King Oscar made the decision to add the genuine Easy Peel packaging to its branded portfolio as a way to establish new standard on the markets they deliver their products. When we demonstrated the added value of our Easy Peel component, they quickly recognized the benefits. The brand is also breaking new ground as the first rectangular can to feature Easy Peel in the Norwegian market, which gives it, along with the striking new design, added differentiation.”
“Consumer reaction has we understand been very enthusiastic, and we are particularly pleased that the can is already being shortlisted for packaging awards."
The new can has proved so successful for King Oscar that it is being launched with two new designs in the United States.
