Seafood supply chain firm Captain Fresh has announced the acquisition of Koral, a prominent Poland-based producer and distributor of branded salmon products. The deal was finalized with Abris Capital Partners, a private equity investor specializing in ESG transformation, and Boguslaw Kowalski, the founder of Koral.
This acquisition is pending approval from the Polish antimonopoly office and other regulatory bodies. It follows Captain Fresh’s previous acquisitions of CenSea, an American importer of frozen seafood, and Senecrus, a French shrimp cooker and distributor.
Captain Fresh, headquartered in Bengaluru, has positioned Boguslaw Kowalski and Justyna Frankowska to spearhead its global salmon strategy. The global salmon market is projected to reach $33.5 billion in 2024, highlighting the strategic significance of this acquisition.
Koral is renowned for its smoked salmon products, marketed under the SuperFish brand, which caters to both domestic and international markets. The company operates 26 production lines, processing 120 tons of fish daily.
Founded in 2020 by Utham Gowda, Captain Fresh operates an online B2B platform that facilitates the trade of various seafood products, including shrimp, salmon, tuna, crab, and lobsters. The platform, available on Android and iOS, focuses on procuring, processing, and distributing seafood for retailers.
Captain Fresh is supported by notable investors such as Tiger Global Management, Prosus Ventures, British International Investment, Matrix Partners India, Accel, SBI Holdings, Evolvence Group, Ankur Capital, and Incubate Fund. To date, the company has raised $165 million and is projected to achieve a revenue run rate of $650 to $700 million by the end of the current financial year.
