Captain Fresh, the Bengaluru-headquartered global packaged seafood company, has completed its acquisition of Frime, a sustainable tuna processor based in Spain, in a move that broadens its portfolio and deepens its European footprint.
Founded in 1977 and based in La Roca near Barcelona, Frime commands over 20% of Europe's yellowfin tuna market and generates revenues exceeding €180 million. The company operates across 33 countries, running four production sites with seven factories covering 21,600 square metres and 20 production lines—with annual output capacity of 15,000 tonnes of frozen, 9,000 tonnes of fresh, and 3,800 tonnes of semi-preserved products.
A recent €50 million investment in its Barcelona facilities has further modernised operations, providing a scalable processing backbone ready for integration into Captain Fresh's global supply chain.
Frime processing facility
The deal marks a key expansion for Captain Fresh, which has already established strong positions in crustaceans through its CenSea, Ocean Garden, Senecrus, and Ocean Edge brands, and in salmon through Koral. With tuna ranking as the third-largest commercial seafood category globally, the Frime acquisition allows Captain Fresh to consolidate all three major species under one platform.
"Bringing the three largest categories on one platform transforms our go-to-market strategy," said Utham Gowda, CMD & Group CEO of Captain Fresh. "We can scale Frime's tuna through our US network while simultaneously introducing our crustacean and salmon portfolio deeper into Southern Europe—multiplying customer share without incremental infrastructure."
Pablo Múgica, CEO of Frime, echoed the strategic fit: "Integrating with Captain Fresh gives us a clear path to global reach and a technology backbone to go further, opening accelerated expansion opportunities in the United States while enabling cross-distribution of Captain Fresh's portfolio across our European retail network."
Frime's leadership team, which includes Chairman Salvador Ramon Mateo and CEO Pablo Múgica, will remain in their roles within the Captain Fresh group, ensuring continuity of customer relationships and market expertise.
The acquisition accelerates Captain Fresh's ambition to build the world's largest vertically integrated packaged seafood conglomerate, with operations now spanning more than 30 countries and over 90 seafood species.
Edited by Megha Reddy
Original Article
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