CenSea, a group company of Captain Fresh, has acquired local peer Ocean Garden to strengthen its position in the US seafood industry.
The financial terms of the deal have not been disclosed.
The acquisition unites two US seafood importers and distributors: Illinois-based CenSea, known for supplying Asian shrimp and a range of seafood products, and California’s Ocean Garden, which specialises in Mexican and Ecuadorian shrimp.
The deal expands CenSea’s portfolio to include brands such as Ocean Garden, Compass, Asian Garden and Pride of Mexico.
CenSea co-president Nate Torch said: “The seafood industry is continuing to evolve, and by joining forces with Ocean Garden, we are further positioning ourselves to create a more resilient and customer-centric seafood conglomerate.”
In conjunction with the acquisition, Ocean Garden’s team, led by president and CEO Celso Lopez, will join CenSea under the leadership of co-presidents Torch and Jeff Stern.
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By GlobalDataIn a statement, CenSea said that this “combined expertise” will foster “growth, innovation, and market expansion”.
Lopez said: “Our customers will continue to receive the same exceptional service and quality seafood that has defined Ocean Garden’s success since 1957.
Lopez added that the “synergies” with CenSea and Captain Fresh’s technology-driven approach will provide Ocean Garden with an opportunity to improve seafood sourcing and distribution practices.
Founded in 2020, India-based Captain Fresh is a tech-led, vertically integrated company with a portfolio of seafood brands.
It sources a diverse range of seafood from the Pacific, Atlantic and Indian oceans to supply markets in regions including the US, Europe, and the Middle East.
In a statement, Captain Fresh said: “Combining the strengths of CenSea and Ocean Garden is a strategic accelerator for the group’s multi-geography, multi-species strategy. By consolidating shrimp supply chains globally, Captain Fresh is well-positioned to enhance its control over cost, quality, and supply reliability.”
Captain Fresh acquired CenSea last year. Apart from CenSea, its portfolio also includes Polish salmon peer Koral and France-based Senecrus.
In an interview with Just Food in January, Captain Fresh CEO Utham Gowda stated that the company is currently generating between $600m-$650m in annualised quarterly revenue and is growing at a rate of 50% to 60% annually.
