Captain Fresh, a seafood company, gets CenSea, a US-based frozen fish and marine product importer, as its merger partner. In terms of the ET, Captain Fresh has bought out CenSea in the deal, which consists of cash as well as stock, with 90% of the payment made in cash exclusively.
As one of the biggest importers of frozen seafood in America, CenSea has a wide variety of fish to offer to its customers on a daily basis. This company serves practically all types of customers, from large restaurant chains to small food service distributors, retailers, and wholesalers, in over 80 countries with various high-quality seafood products. This purchase of a 40-year-old U.S. company is just one part of Captain Fresh’s bold plan to grow not only by exporting seafood but also by distributing it in markets like these—the United States and Europe. The acquisition of Senecrus, a French shrimp-distributing company, was only one of the latest expected developments.
Captain Fresh, having talked over it, is now negotiating for further acquisitions into the European market, where it can benefit from and enhance the North Atlantic supply pipelines. Our five-year-old company has sought a $25 million series C round extension. With the existing round nearing its end, investors will have to hurry to put in the additional $48 million.