INDIA – India’s Captain Fresh has acquired the Polish salmon processor Koral from private-equity firm Abris Capital Partners.
This acquisition marks a notable expansion for Captain Fresh, headquartered in Bengaluru, known for supplying an array of fish and shellfish, including salmon and tuna, to markets across Asia, Europe, and North America.
As part of the deal, Warsaw-based Abris will gain an undisclosed stake in Captain Fresh.
This strategic partnership is expected to bolster Captain Fresh’s presence in the European market, particularly in the value-added product (VAP) segment of the seafood industry, which Utham Gowda, CEO of Captain Fresh, described as one of the most promising opportunities globally.
Abris Capital Partners, which initially acquired Koral in 2017, included it in a broader transaction involving the Polish canned fish company Graal Group.
Abris gradually increased its ownership stake in Graal, eventually gaining full control from its owner, Bogusław Kowalski.
Last year, Abris sold Graal to the German dairy conglomerate Müller, but retained Koral, carving it out as an independent entity.
Koral, established in 1957 and based in Kukinia, Poland, specializes in fresh, frozen, and smoked fish products, including salmon, trout, tuna, and halibut.
The company’s product lines, such as its namesake Koral brand and the SuperFish line, are well-established in European retail markets and include private-label products for supermarkets.
The management team at Koral, including key figures like Bogusław Kowalski and Justyna Frankowska, will remain in place following the acquisition, which is pending approval from Polish competition authorities.
Captain Fresh is supported by several high-profile investors, including Tiger Global Management from New York, Prosus Ventures in the Netherlands, the UK’s British International Investment, and Mumbai-based Ankur Capital.
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