"We share a common ambition to become a global and responsible leader in high-value-added seafood products, while deepening the group’s ESG commitment and implementing an ambitious external growth strategy," said Roland Hillion of Hivest Capital.
Photo: Réunimer – Pêcherie du Sud.
Hivest Capital Partners, a European private equity firm, has acquired a majority stake in Réunimer – Pêcherie du Sud, a leading seafood producer in the Indian Ocean, marking what the companies describe as "a new growth chapter" for the seafood group.
"In a seafood market growing by 5% per year, the group sought to partner with a leading financial partner to support the next stages of its development," Hivest Capital stated in a press release.
"With this goal in mind, Hivest Capital has taken a majority share in the company, facilitating a transition between the group’s leadership generations and increasing the ownership stakes of both current and future leaders. Governance will remain based in Réunion, where the group operates."
Founded in 1996 in Réunion Island, a French overseas territory in the Indian Ocean, the Réunimer – Pêcherie du Sud group has steadily grown since then, including establishing operations in Madagascar.
The company, which is certified by the MSC and the French "Sustainable Fishing" ecolabel, operates across the entire seafood value chain, from fishing and aquaculture to processing and export. With a turnover of €70 million, the group operates 30 ships and seven processing plants, supplying a wide range of seafood products, such as toothfish, octopus, shrimp, and seaweed, to international markets including France, Asia, and the U.S.
Hivest Capital's majority stake will support Réunimer's efforts to enhance its corporate social responsibility (CSR) and environmental, social, and governance (ESG) initiatives while pursuing external growth strategies to strengthen its market position, the companies said.
“We wanted our new partner to support our development while also aligning with our goal of creating local value and acting as responsible player in the fishing industry, committed to ecological practices both at sea and on land. These were the criteria on which we chose Hivest Capital, and we are excited to embark on this new journey together,” said Sébastien Camus and Olivier Méraud, respectively President and General Manager of Réunimer – Pêcherie du Sud.
Roland Hillion of Hivest Capital added: "We thank the shareholders and the management team for their trust and are thrilled to support the group in its new stage of development. We share a common ambition to become a global and responsible leader in high-value-added seafood products, while deepening the group’s ESG commitment and implementing an ambitious external growth strategy."
