Grupo Profand buys into Kefalonia Fisheries
Vigo, Spain, headquartered family-owned fishing company Grupo Profand has acquired a majority stake in Greek fish farmer Kefalonia Fisheries, with the move intended to support its international growth and expansion.
Focused mainly on the production of sea bass and sea bream, Kefalonia comprises four fish farms, two packaging plants, and a hatchery that produces fish eggs and smolt. It employs 150 people.
“Thanks to this addition we strengthen our position within the sea bream, sea bass, and corvina families, being able to control all the stages of the production process,” Profand CEO Enrique Garcia said in a press release.
Garcia said Profand was attracted by Kefalonia’s strong business model, its high growth potential at a global scale, and by its outstanding management team, including its CEO, Lara Barazi-Geroulanou, who will continue to lead the company.
Barazi-Geroulanou is also president of the Federation of European Aquaculture Producers (FEAP).
“Kefalonia Fisheries joining the Profand family will allow us to strengthen our presence in the international market and continue the dynamic growth of the company with a wider product range,” she said.
Employing more than 2,500 staff and operating under a vertically integrated business model, Profand has its own fleet of 24 factory vessels working in many of the world’s main fishing grounds, and 12 processing plants. With a presence in eight countries, Profand is a specialized supplier to the Spanish Mercadona supermarket chain. Its brands include Nautis, Boston Pride, Chillfresh, and SeaTru. It acquired Boston, Massachusetts, U.S.A.-based Stavis Seafoods in January 2018.
Photo courtesy of Kefalonia Fisheries