Vigo, Spain-based Profand has entered an agreement with major shareholders of Unión Martín Group to acquire the company.
Profand said Alantra Private Equity and the other shareholders of Unión Martín Group agreed to a purchase of the company, which specializes in catching, processing, and commercialization of seafood products. Unión Martín Group is based in Las Palmas, Gran Canaria, Spain, and specializes in cephalopods, flatfish, and finfish.
“This transaction reflects the company’s intention to continue growing in an orderly manner, strengthening its industrial capacity and its presence in strategic markets such as the Canary Islands,” Profand President and CEO Enrique Garcia said in a release. “The incorporation of Unión Martín fully aligns with our roadmap and allows us to continue building a leading project in the fish business, with a clear commitment to investment and long-term value creation.”
Profand said the transaction includes Unión Martín Group’s operations in Las Palmas, as well as Silomar’s operations in Valencia. Unión Martín Group acquired Silomar in 2022, which came with a processing plant and cold-storage facilities measuring 19,000 square meters.
Profand said the acquisition strengthens its presence in both mainland Spain and in the Canary Islands off the coast of Northwest Africa. It said the company has a vision of further developing the Canary Islands market for its products.
Alantra purchased Unión Martín Group in April 2018 and kept the company’s management team in place following the closure of the transaction. Soon after, Unión Martín acquired a significant stake in Mauritanian fishing company Societé Mauritanienne pour la Pêche Industrielle, expanding its fishing fleet. In 2025, Unión Martín also completed construction of a cold-storage facility to preserve sashimi-grade tuna.
The acquisition comes soon after Profand revealed its FY 2025 results, which featured revenue and EBITDA increases that it said were driven by operational efficiencies and cost optimization in its business.
