Captain Fresh, a seafood supply chain company based in Bengaluru, has announced its acquisition of Koral, a prominent Poland-based producer and distributor of branded salmon products. The deal was finalized with Abris Capital Partners, a specialist in ESG transformation private equity investment, and Koral’s founder, Boguslaw Kowalski.
The acquisition is pending approval from the Polish antimonopoly office and other regulatory bodies. This move follows Captain Fresh’s previous acquisitions of CenSea, a U.S. importer of frozen seafood, and Senecrus, a French shrimp cooking and distribution company. In the new strategic direction, Boguslaw Kowalski and Justyna Frankowska will spearhead Captain Fresh’s global salmon strategy. Market research indicates that the salmon market is projected to reach $33.5 billion in 2024.
Koral is renowned for its smoked salmon products, marketed internationally under the SuperFish brand. With 26 production lines, the company processes 120 tons of fish daily.
Founded in 2020 by Utham Gowda, Captain Fresh operates an online B2B platform specializing in seafood products, including shrimp, salmon, tuna, crab, and lobsters. The platform handles procurement, processing, and distribution for retailers and is accessible via a mobile app on both Android and iOS.
Captain Fresh has attracted significant investment from notable firms such as Tiger Global Management, Prosus Ventures, British International Investment, Matrix Partners India, Accel, SBI Holdings, Evolvence Group, Ankur Capital, and Incubate Fund. To date, it has secured $165 million in funding and is anticipated to end the current fiscal year with a revenue run rate of $650 to $700 million.
