Online Seafood Firm Captain Fresh Acquires US-Based Distributor
February 29, 2024 | 1 min to read
Online seafood firm Captain Fresh has acquired CenSea Inc, a US-based frozen fish and seafood importer and distributor, in a cash-and-stock deal, with 90% of the consideration paid in cash. According to CEO Utham Gowda, CenSea will become the “mainstay” of Captain Fresh’s US operations. The acquisition leverages CenSea’s substantial supply chain connections in India and South East Asia and aims to enhance cross-selling opportunities to existing customers.
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.
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