Online seafood firm Captain Fresh has acquired CenSea Inc., a US-based frozen fish and seafood importer and distributor.
According to an ET report, Captain Fresh has fully acquired CenSea in a cash-and-stock deal, with 90% of the consideration paid in cash.
CenSea is one of the largest importers of frozen seafood in the US and the company markets a variety of quality seafood items from nearly 25 countries to a diverse array of customers including restaurant chains, food service distributors, retailers, and wholesalers.
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. The firm recently acquired French shrimp distributor Senecrus.
Captain Fresh is now engaged in more acquisition talks in the European market which allows its entry into the North Atlantic supply markets.
The five-year-old company recently raised $25 million in extension of the Series C round. The firm will close the ongoing round at $48 million.
