Two major Lithuanian fish processors unite under INVL ownership

The Central and Eastern European private equity fund INVL Private Equity Fund II has acquired Nordian Group and Norvelita, two Lithuanian fish processing companies.

The private limited company Norvelita specialises in the production of smoked and salted salmon, while Nordian Group is engaged in fish processing and wholesale trade, supplying fresh fish to major retail chains in Lithuania.

The combination of the two companies will create one of the largest fish processing groups in the region, with combined annual revenues of approximately €200 million.

"We see clear synergies between the two companies, from joint raw material procurement to the development and expansion of new, higher value-added product categories in the EU," indicated Nerijus Drobavičius, Partner at INVL Private Equity Fund II.

Once the transaction is completed, subject to approval from the Lithuanian Competition Council, the founders of both companies will retain a minority stake and continue to contribute to the project.

Regarding this, founder and main shareholder of Norvelita, Jordanas Kenstavičius, said: "The partnership with INVL Private Equity Fund II provides the opportunity to further invest in production capacity and people, while ensuring that the company continues to grow by maintaining quality and customer trust."

Finally, founder and main shareholder of Nordian Group, Ramūnas Gaižauskas, assured: "Together with our partners, we will be able to implement our ambitious expansion plans much more rapidly, strengthen our position in export markets, expand into new fish and seafood segments, and create even greater value for our customers, employees, and shareholders."