Vigo, Spain-based seafood firm Nueva Pescanova announced it has sold off its refrigerated business in France to Ecuadorian shrimp-farming firm Omarsa.
Nueva Pescanova did not reveal specific terms of the sale but said the move formed part of its strategic asset review process initiated at the beginning of the year, with the goal of increasing efficiencies and enhancing value creation. That focus on higher-value operations and better productivity led the company to net profits in 2025 for the first time in several years.
Now, with the sale to Omarsa, Nueva Pescanova said it found a stable long-term investor that will continue with the business and help maintain jobs, as the agreement includes the transfer of all employees in the refrigerated area.
Nueva Pescanova will keep ownership of its frozen foods division and will continue to operate in France via its subsidiary Pescanova France.
“This operation is a step forward in our value generation plan because it allows us to focus on the strategic assets for the Nueva Pescanova Group and with the greatest growth potential, and contributes to developing our frozen position in France,” Nueva Pescanova CEO Jorge Escudero said.
On the other side of the deal, Omarsa said the purchase will help drive future growth in Europe.
“The transaction represents an important strategic entry for Omarsa into the French chilled shrimp market, as it strengthens our relationships with foodservice and retail customers in the region,” Omarsa Group CEO Sandro Coglitore said. “The acquisition fits in with our growth plans to become a vertically integrated global player in the shrimp sector.”
The deal includes two production facilities located in Boulogne-sur-Mer and Lorient, according to the Chicago, Illinois, U.S.A.-based international law firm McDermott Will & Schulte, which represented Omarsa in the transaction.
Fishing sector-specialist investment bank Antarctica Advisors advised Nueva Pescanova in the process.
Family-run integrated shrimp farmer Omarsa was founded in 1977 and is one of Ecuador’s main shrimp exporters, reaching over 60 markets worldwide. It was the first shrimp farm in the world to receive Aquaculture Stewardship Council certification in 2014.
Nueva Pescanova sells its products in over 70 countries, employing around 9,000 people and operating in 17 countries.
