Cooke has launched Cooke Hellas, comprising its new operations in Greece after its acquisition of Avramar.
Cooke announced the launch on LinkedIn and said Cooke Hellas marks “the next chapter” for the former operations of Avramar.
“As part of the Cooke family of companies, we combine decades of expertise in Mediterranean aquaculture with the global strength, long-term vision, and values of one of the world's leading seafood companies,” Cooke said in the post. “We are excited about the opportunities ahead and look forward to sharing this new chapter with you.”
The company also said it participated in the Hellenic Aquaculture Producers Organization special event, where 25 representatives from the China Hospitality Association visited Greece with the goal of getting more of the country’s aquaculture products into the Chinese hospitality and catering market.
Cooke Hellas represents the latest chapter for what was once Avramar, a company formed in 2020 through the merger of Andromeda Group, Nireus, Selonda, and fish feed producer Perseus. Funding by U.S.-based company Amerra Capital management and Abu Dhabi’s Mubadala Investment Company helped seal the deal.
Just three years later, the company was already facing a capital crunch. At the time, the company had as much as EUR 450 million (then USD 480 million) in outstanding loans, and its lenders pushed it to enter into a sale. Those banks hired Deloitte to explore that potential sale, and it hired a Norwegian firm to conduct a valuation of all of its assets. On 25 July 2023, the company denied it breached any of its loan covenants, but by July 2024, a list of bidders had developed for the company.
As bidders developed, Deloitte said only the company’s Greece-based operations were being sold and that six non-binding offers had come forward for the company. Over time, that list narrowed down to two main competitors for the company – Aqua Bridge Group and Cooke.
Aqua Bridge Group had already snagged development contracts for aquaculture projects, and media in Greece reported the company had offered as much as EUR 230 million (USD 265.6 million) for the operations of Avramar Greece. Aqua Bridge Holding CEO Mohammad Tabish announced in early 2025 the company had “taken a significant step forward” in formalizing Aqua Bridge Group’s acquisition of the company.
However, Cooke’s offers apparently began to appeal to creditors, and Cooke acquired Avramar Greece’s parent company, Avramar Seafood, in February 2026. In March, the company took operational control of Avramar after signing a memorandum of understanding to take on Avramar Greece’s debts.
Now, Cooke Hellas is the culmination of the company’s efforts to acquire Avramar and expand its presence in the Mediterranean. The company already purchased Spanish aquaculture company Culmarex and had attempted to purchase sea bass and sea bream farming assets from Selonda Farms.
Cooke could not be reached for comment on the launch of Cooke Hellas.
