The wholesaler Alfa Fish has swallowed up the business of its competitor Al-Vis

Lommel-based mussel and shellfish specialist Al-Vis was recently forced to cease operations. This unfortunate situation was quickly transformed into an opportunity by Brecht's company Alfa Fish. This emerging market leader in seafood products for foodservice took over the company's customer portfolio and certain tangible assets.

Alfa Fish founders Steven (first from left) and his brother Christophe Timmermans (fourth) at the opening ceremony of the maatjes season. © Alfa Fish

"This is not the end," promised the Al-Vis team when it announced to customers that it had filed for bankruptcy on June 13 at the Antwerp Business Court. The cessation of operations did not, in fact, mark the disappearance of this important partner of Limburg restaurateurs.

"We will continue to offer optimal service to our customers through Alfa Fish, under similar conditions. Deliveries and products remain as usual," stated the company, previously headed by Luc Van Hoof, who will remain temporarily involved along with "certain trusted contacts."

Antwerp-based Alfa Fish completed this strategic transaction at an opportunely tight timeframe, given the nature of its inventory, the volatility of its clientele (restaurants, fishmongers), and... the start of the Zeeland mussel season. This integration will increase its annual mussel volume from 450 tons to more than 750 tons.

Growth through targeted acquisition

"This acquisition fits perfectly with our ambition to become a leader in the Belgian hospitality market," CEOs Steven and Christophe Timmermans told the Gazet van Antwerpen . They are pursuing their growth independently, focusing on digitalization (90% of their customers already order online) and customer focus. Consolidated revenue is expected to exceed €35 million in 2025, compared to €27.3 million in 2024 (+28%).

© Al-Vis.

It should be noted that Alfa Fish did not acquire Al-Vis or its staff (15 employees), but purchased its merchandise, equipment, and customer base. The amount was not disclosed. In any case, the Timmermans brothers will not need to invest in additional infrastructure: the customers, several of whom have already voluntarily migrated, are located in Limburg, Kempen, and Flemish Brabant, regions already covered.

Big fish eat small fish...

Alfa Fish supplies the hospitality industry throughout Flanders with fresh fish and mussels at competitive prices, through direct purchases from Belgian and Dutch auctions. The wholesaler also offers frozen products through direct sourcing from Asia.

The traditional fish wholesale sector in Belgium is undergoing a significant transition, characterized by rising costs and digitalization. The players who will make the difference will be those who manage to combine speed, scale, and technology.

As the Tijd points out , Alfa Fish's management had little need for a buyout advisor. Steven and Christophe are well-versed in the trade, having previously worked in investment banking, at Rothschild and JPMorgan respectively. There's no need to contact bankers to secure a loan either; Alfa Fish has a sizable nest egg: an operating profit 18% higher than its turnover.

Alfa Fish makes no secret of the fact that the company isn't stopping there. The Timmermans brothers are urging other seafood suppliers to contact them because, according to them, obsolescence is a threat to many businesses.