Jun
8
Profand Group’s general manager, Enrique Garcia, has increased his stake in the firm from 45% to 66%, after buying shares to different minority shareholders, La Voz de Galicia reports.
This is the most prominent shareholder movement in recent years within the seafood sector, according to Alimarket.
Following the change in ownership, sources said Profand will not make any changes in the business strategy. Thus, the firm will continue with its expansion initiated in 2013, when it acquired the fishing company Pesquera Deseado in Argentina.
In India, Profand has a partnership with Vayalat Export; in Peru it has a stake in Produmar and in Senegal it became the owner of Complexe Senefad and bought a new boat to catch octopus.
Profand’s revenue totaled €201.5 million, up 11% year-on-year. The company supplies cephalopods for Mercadona, the Spanish largest retailer.
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