Acquisition · Commerce & Consumer Brands

Captain Fresh acquires Spanish tuna processor Frime

By Startup Enthusiast · 4 March 2026

What they do

Captain Fresh is a B2B seafood supply chain platform connecting fishermen with retailers

It acquired Frime, a Spanish tuna processor with over €180 Mn annual revenue

The acquisition adds tuna as a third major category and supports IPO plans

Captain Fresh completed the acquisition of Frime, a Spanish tuna processor.
Frime was founded in 1977 and is headquartered in La Roca near Barcelona, Spain.
Frime has four production sites with seven factories and 20 production lines.
The acquisition adds tuna as Captain Fresh's third major category after crustaceans and salmon.
Captain Fresh plans to scale Frime's tuna in the US using its distribution network.
It also plans to push crustacean and salmon portfolio deeper into Southern Europe via Frime's retail partnerships.
Captain Fresh withdrew its confidential DRHP for a $400 Mn IPO in December 2025 due to delays in regulatory approvals for a European acquisition.
The company plans to refile IPO papers in early 2026 after completing the Frime acquisition.

Frime holds over 20% share of Europe's yellowfin tuna market.
Frime has annual revenue over €180 Mn (₹1,932 Cr).
Captain Fresh withdrew its confidential DRHP filed with SEBI for a $400 Mn IPO in December 2025.
The acquisition helps Captain Fresh build a vertically integrated global seafood conglomerate.

Captain Fresh is a B2B seafood supply chain platform connecting fishermen with retailers and foodservice businesses.
It is a global packaged seafood company headquartered in Bengaluru.
It operates in over 30 countries and handles more than 90 seafood species.
Its portfolio includes 10 subsidiaries and joint ventures across the US, Europe, and Asia.
Nearly 60% of demand comes from the US, followed by Europe; the Middle East is less than 5%, and India is 2-3%.
Captain Fresh brands include CenSea, Ocean Garden, Senecrus, Ocean Edge (crustaceans), and Koral (salmon).
Frime serves retail and foodservice customers across 33 countries.
Frime has 4 production sites, 7 factories, 20 production lines, covering 21,600 sq m.
Frime's annual capacity is 15,000 tonnes frozen, 9,000 tonnes fresh, 3,800 tonnes semi-preserved.
Frime employs more than 450 people.

Scale Frime's tuna in the US using Captain Fresh's distribution network.
Push crustacean and salmon portfolio deeper into Southern Europe via Frime's retail partnerships.
Refile IPO papers in early 2026 after completing the Frime acquisition.
Aim to build the world's largest vertically integrated packaged seafood conglomerate.