Portuguese seafood company Brasmar Group has purchased two seafood-processing facilities from Giraldo Group.
Brasmar announced on its LinkedIn page that it purchased the two facilities from Giraldo for EUR 18 million (USD 21 million). Giraldo Group, also known as Bacalao Giraldo, specializes in cod and post-processed cod products.
“This acquisition, which should be made official in early September, brings us, in addition to the scale and diversification of the portfolio, a strong notoriety in the Spanish market,” Brasmar said in a release.
Bramsar also said the acquisition brings it 120 new employees and additional seafood-processing capacity.
The funds for the transaction came in part from funds that new shareholder Oxy Capital – a Portugal-based private equity firm invested in Brasmar Group. The company also said a strategic alliance with Vigent Group – which recently added an investment through subsidiary Promosea – aided the transaction.
As a result of the investments, Vigent Group’s subsidiary Promosea now holds a majority of the capital in Brasmar Group, and Oxy Capital now has 25 percent ownership.
"With this new configuration, we reinforce the solidity and ambition of our project. The entry of Oxy Capital brings new skills and energy while ensuring stability and strategic alignment with the shareholders who have been with the company for several years,” Brasmar Group Chair Sérgio Silva said.
Bacalao Giraldo faced a precarious financial position leading up to the recent purchases. Its debt began to exceed its revenue, and it filed for insolvency in February 2025, Grande Consumo reported. The company was also dealing with warnings from the U.S. Food and Drug Administration after it found what it called serious problems with its Hazard Analysis and Critical Control Point (HACCP) plans.
