Koral manufactures smoked salmon products that are sold across domestic and international markets under the brand SuperFish. The company has 26 production lines, processing 120 tonnes of fish daily.
The acquisition marks Captain Fresh’s entry into the salmon market, estimated at $33.5 billion in 2024.
“We are pleased to welcome Koral to the Captain Fresh group. This acquisition is a strategic milestone in our mission to become the leading tech-enabled multi-species, multi-origin global seafood conglomerate,” said Utham Gowda, founder and CEO of Captain Fresh.
“The European market is one of the most exciting VAP (value-added product) opportunities in seafood globally. Koral augments our earlier acquisition of France-based Senecrus, adding marquee Polish and German retailer brands to our portfolio of offerings. Koral’s ‘smoked’ format capability complements Senecrus’ ‘cooking’ format capability. We are also thrilled to mark our foray into the salmon value chain, which is one of the largest segments within the seafood industry. With seasoned leaders Boguslaw Kowalski and Justyna Frankowska leading our global salmon strategy, we are gearing up for the next phase of growth,” added Gowda.
The new deal follows Captain Fresh's acquisition of CenSea, one of the USA's largest importers of frozen seafood, and Senecrus, a French shrimp cooker and distributor.
Founded in 2020, Captain Fresh has established itself as one of the world's largest exporters and distributors of fish and seafood. Backed by major investors, including Tiger Global Management, Prosus Ventures, British International Investment, Z47 (fka Matrix Partners India), Accel, SBI Holdings, Evolvence Group, Ankur Capital and Incubate Fund, Captain Fresh aims to create one of the largest seafood platforms in the world and is expected to close the current financial year at a revenue run rate of $650 to 700 million.
