Portuguese seafood business Brasmar Group has acquired a majority stake in Sedisal, a French distributor of refrigerated seafood products.
The acquisition of 51% of Sedisal (with a call option on the remaining 49%) will enable Brasmar to consolidate its operations in French-speaking markets, boosting sales in both the refrigerated and frozen product business, the company said in a statement.
Sedisal Market Position
Based in Saint-Jean-de-Luz, a fishing port on the Basque coast, Sedisal's main areas of expertise are in the distribution of chilled octopus and codfish, with the company boasting an annual turnover of €13 million.
In 2015, the company launched a range of ready-to-eat cephalopod products in partnership with Foncasal, rolling out its own brand, Itsaluz Lumiére de Oceans, a year later.
With a presence in over 4o countries, Brasmar Group achieved a consolidated turnover of around €240 million in its 2021 full year, of which over 50% was derived from exports.
The group has been expanding internationally in recent years through a series of acquisitions and the opening of subsidiaries.
The Portuguese company is owned by the VigentGroup and private equity fund MCH.
“We are always on the lookout for potential business opportunities that allow us to increase our market share, product offering and the fluidity of the logistics chain," said Sérgio Silva, CEO of VigentGroup.
"This acquisition responds to our growth objectives in this market and reinforces the internationalisation dynamics that we have been implementing in recent years."