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Online seafood firm Captain Fresh has acquired CenSea Inc, a US-based frozen fish and seafood importer and distributor, the former’s founder and chief executive Utham Gowda told ET.
Gowda did not disclose the deal value, but said that his firm was fully acquiring CenSea in a cash-and-stock deal, with 90% of the consideration paid in cash. CenSea, which has a pan-US presence, will become the “mainstay” of Captain Fresh’s US business, he added.
On the supply side, India and South east 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.
The buyout of the 40-year-old American firm is part of a wider foray by Captain Fresh to expand from just exporting seafood, and into distribution in markets like the US and Europe, and follows the recent purchase of French shrimp distributor Senecrus.