Captain Fresh, an online seafood company, has completed the acquisition of CenSea Inc., a US-based importer and distributor of frozen fish and seafood, according to Utham Gowda, Captain Fresh’s founder and CEO.
Although the deal value was not disclosed, Gowda mentioned that Captain Fresh acquired CenSea entirely in a cash-and-stock agreement, with 90% of the consideration paid in cash. CenSea, having a nationwide presence in the US, is poised to become the central focus of Captain Fresh’s business operations in the country.
“On the supply side, India and Southeast Asia form a substantial part of CenSea’s mix with multi-decade relationships with more than 100 factory partners in these supply markets… on the demand side, we are excited about the potential to cross-sell to their existing customers,” Gowda said.
As part of its broader strategy to diversify beyond seafood exporting, Captain Fresh has acquired the 40-year-old American firm CenSea. This move signifies the company’s expansion into distribution in key markets such as the US and Europe, following its recent acquisition of French shrimp distributor Senecrus.
The company is currently engaged in more acquisition talks in the “European market, which allows us entry into the North Atlantic supply markets,” Gowda said without further details.
“By combining our talents, experience, and market presence with an international seafood player like Captain Fresh, we will enhance the overall experience for our customers,” CenSea Co-President Nate Torch said in a press release. “I am proud of what CenSea has accomplished as a family-owned enterprise. We now move forward with a united team and a common goal to continue building an industry-leading resource for our loyal customers, as well as to provide growth opportunities to our loyal global supply partners.”
