The Seafoodia Group has acquired acquired Lorient, France-based Argis Galac'Sea, which specializes in the import and sales of frozen seafood products.
The Marseilles, France-based seafood Seafoodia, which had sales of EUR 140 million (USD 160 million) in 2018, said the acquisition will advance its goal of expanding its presence in France.
"This acquisition will help us consolidate our commercial presence on the French market and also to develop our activity in the 'wonders from the ocean' that contribute to the health of mankind, animals, and the planet," Seafoodia President David Sussmann said in a statement.
The integration or Argis Galac’Sea will take place gradually, according to Sussman. The founder of Argis Galac’Sea, Régis Privé, will stay on to help with the transition, Sussman said.
Seafoodia is currently one of the top 400 seafood companies worldwide, but its objective is to reach the top 100 by 2026, according to the supplier.
Argis Galac’Sea generated EUR 22 million (USD 25 million) in sales and sold 4,000 tons of seafood products in 2018.
