Bengaluru-based seafood supply chain company Captain Fresh has finalized the acquisition of Spain-based tuna processor Frime, enhancing its presence in key global seafood categories. Founded in 1977 and headquartered near Barcelona, Frime specializes in premium yellowfin tuna, catering to retail and foodservice clients across 33 countries, with a revenue exceeding €180 million ($213 million) and over 20% market share in Europe’s yellowfin tuna market.
Through this strategic move, Captain Fresh expands its multi-species portfolio and secures a significant processing footprint in Europe. Frime’s operations span four production sites with an annual capacity of 15,000 tonnes of frozen products, 9,000 tonnes of fresh tuna, and 3,800 tonnes of semi-preserved items, following a recent €50 million ($59 million) investment in modern processing facilities in Barcelona.
The acquisition bolsters Captain Fresh’s presence in crustaceans, salmon, and tuna categories. The company plans to leverage its distribution network in the United States to amplify Frime’s tuna reach and to grow its crustacean and salmon offerings across Europe. Frime’s current leadership, including chairman Salvador Ramon Mateo and CEO Pablo Múgica, will continue to guide the company within the Captain Fresh group.
This acquisition follows Captain Fresh’s previous ventures, including the acquisition of Poland-based salmon company Koral in 2024, aimed at strengthening its European salmon market presence. Earlier acquisitions of US-based seafood importer CenSea and France-based seafood distributor Senecrus have also contributed to Captain Fresh’s global expansion strategy.
Captain Fresh’s FY25 results show a significant 2.5X increase in gross merchandise value compared to the previous year, reaching Rs 3,421 crore. The company also shifted from a net loss of Rs 229 crore to a net profit of Rs 42 crore during the same period.
Source: Entrackr : Latest Posts