Frozen seafood importer and distributor CenSea acquired by Captain Fresh
CenSea Inc., a frozen fish and seafood importer and distributor based in the US, has been acquired by the online seafood company Captain Fresh.
90% of the consideration for the cash and stock deal, according to an ET report, was paid in cash to Captain Fresh, who fully acquired CenSea.
One of the biggest importers of frozen seafood into the US, CenSea supplies high-quality seafood products to a wide range of clients, such as food service distributors, restaurant chains, wholesalers, and retailers, from nearly 25 countries.
Captain Fresh is expanding its business beyond seafood exports to include distribution in markets such as the US and Europe, and this includes the acquisition of the forty-year-old American company. Senecrus, a French distributor of shrimp, was recently acquired by the firm.
More acquisition discussions are currently taking place in the European market, enabling Captain Fresh to enter the North Atlantic supply markets.
Recently, the five-year-old company raised $25 million to continue its Series C funding round. The current round will be closed by the company at $48 million.
