India's Captain Fresh acquires Poland-based Salmon company Koral

Captain Fresh, a business-to-business (B2B) seafood provider, has acquired Poland-based salmon company Koral.

The acquisition marks Captain Fresh's third major acquisition this year, following its purchases of CenSea in the United States and Senecrus in France.

The acquisition aims to expand Captain Fresh's presence in the European seafood market, particularly in the lucrative salmon segment.

What does Koral do?

Founded by Boguslaw Kowalski, Koral is part of the Graal Group, a renowned fish-producing and processing firm.

The company specializes in producing and distributing smoked salmon products under the brand SuperFish, catering to both domestic and international markets.

It claims to have 26 production lines and processes 120 tons of fish daily. The acquisition aligns with Captain Fresh's strategy to enhance its portfolio with high-quality, value-added seafood products.

Captain Fresh CEO highlights the importance of acquisition

Utham Gowda, CEO of Captain Fresh, said, "This acquisition is a strategic milestone in our mission to become the leading tech-enabled multi-species, multi-origin global seafood conglomerate." 

Gowda highlighted that the European market offers exciting opportunities for value-added seafood products, and Koral's inclusion will bolster Captain Fresh's offerings to marquee Polish and German retailer brands.

As part of the acquisition, Justyna Frankowska, a current board member of Koral, will assume the role of CEO. Boguslaw Kowalski will continue to play a significant role in leading Captain Fresh's global salmon strategy. 

While financial details of the acquisition were not disclosed, the deal provides an exit for Koral's private equity backer, Abris Capital Partners.

Captain Fresh, which is backed by investors such as Tiger Global, Prosus Ventures, and British International Investment, has raised a total of $165 million to date.