The Spanish seafood group Profand has closed the purchase of a majority stake in Kefalonia Fisheries, a Greek company specialized in the farming and marketing of sea bream and sea bass. With this acquisition, Profand, a world leader in cephalopods, reinforces not only its international expansion but also its vertical integration in aquaculture species.

Kefalonia Fisheries’ main assets are four aquaculture farms, a hatchery and two packaging plants. “Thanks to this addition, we have strengthened our position in the sea bream, sea bass and corvina families, thus controlling all stages of the process”, said Enrique García Chillón, Profand CEO, about its arrival in Greece.

Win-win operation

After the incorporation, Kefalonia Fisheries’ management team, led by its CEO, Lara Barazi- Geroulanou, will remain at the helm of the company, and its 150 employees will join the Profand Group’s more than 2,500 employees. The Greek company, which specializes in the farming of premium and organic sea bass, sea bream and corvina, had a presence in several countries in the Mediterranean area, especially Italy, until now. With this operation, the company will be able to grow and expand its international presence. “The entry of Kefalonia Fisheries into the Profand family will boost our presence in the international market”, said Barazi- Geroulanou.

Specialized supplier of Mercadona, Profand is the second largest company in the sector by turnover in Spain. Headquartered in Vigo, Galicia, it is a family fishing group specialized in the capture, processing and marketing of seafood products, with 100% Spanish capital. The company has a direct presence in eight countries and is also present in the sector’s main markets, with its own fleet working in the world’s main fishing grounds under a vertical integration model.