Huelva, Spain-based Krustagroup has acquired the majority of Italian Effegi Service, improving its distribution network in Italy.
The longtime partners will continue to operate independently, but will “seek to take advantage of synergies to enhance their growth in the Italian market,” according to a press release.
“Our goal is to grow together and take advantage of synergies with a company that has more than 25 years of experience in the distribution of seafood in Italy, a market in which Krustagroup already has a consolidated presence,” the company said.
Owned by the Amasua Group, Krustagroup, which operates the Grand Krust, Krustasur, and Frío Condal brands, had EUR 83.1 million (USD 88.3 million) of sales across 8,175 metric tons of seafood in 2022, with exports accounting for 57.3 percent, or EUR 50 million (USD 53.1 million), of its sales. The company said it is hoping to increase its exports to the Italian market, which made up 10 percent of its total sales last year. Overall, its international sales rose 29.1 percent in 2022.
“Italy has always been a strategic market for us. This operation confirms our strong export vocation and expands the typology of channels for the commercialization of our products, which are distinguished by their high quality standards,” Krustagroup President and CEO Elías Suárez Garmendia said.
Krustagroup has partnered with Italian Effegi Service since 2000, distributing seafood and vegetables throughout Italy, including its own products, which are processed at its facility in Cerruto Guidi, Florence, Italy. It sells to wholesale, large distribution, and cruise line customers, using both its own and external facilities.
In 2020, the year Garmendia took over the family-owned firms as board chair of both Grupo Amasua and Krustagroup. As CEO of the latter company, the companies have placed greater emphasis on exports “in an effort to maintain and enhance this strategic line as a basis for business expansion, positioning the companies as specialists and strategic partners to clients.”
“Krustagroup offers comprehensive support in all phases of product marketing, from capture to final sale, providing ad hoc solutions for the supply of seafood products to each specific client and market, with high added value, ensuring the utmost quality standards, in addition to providing industry advice based on the company’s 50+ years of experience in the fishing sector,” the company said in its release.
Photo courtesy of Krustagroup
