The Spanish company Krustagroup has acquired a majority stake in the Italian company Effegi Service, which has extensive experience in seafood and vegetable distribution in its home country.
According to Elías Suárez Garmendia, President and CEO of Krustagroup, this was a decision to follow. "Italy has always been a strategic market for us," he said. "This operation confirms our strong export orientation and expands the range of channels for marketing our products, known for their high-quality standards."
With this move, the Krustagroup advanced in seafood marketing and distribution on its path to success. Krustagroup achieved an impressive export rate of 57.3% of its sales in 2022, thus boosting its growth strategy in the European market. Italy was a key market focus, where the company concentrated 10% of its total sales volume last year, making this decision a logical step in its strategy.
However, both companies have shared more than just this recent transaction. Since 2000, there has been a commercial relationship between Krustagroup and Effegi, and now they will continue from another common point: synergies. As explained in the communiqué, both organizations will maintain their legal structures and operate independently, aiming to leverage synergies to enhance their growth in the Italian market.
Krustagroup is part of the Amasua Group and it is specializing in the marketing of fresh and frozen seafood and aquaculture products. Operating in demanding markets, including the U.S. and Japan, Krustagroup offers a diverse range of fish, seafood, and cephalopods. Some of their brands are Grand Krust, Krustasur, and Frío Condal. Furthermore, they manage private labels, serving both wholesale and retail channels.
In 2022, Krustagroup achieved a revenue of 83.1 million euros, marking a 10% increase from the previous year. Additionally, international sales surged by 29.1%, totaling 50 million euros.
Effegi, established in 1997, specializes in seafood and vegetable products, both fresh and frozen, distributed throughout Italy. Operating out of their facilities in Cerreto Guidi (Florence), Effegi imports and processes these products at their origin. With a team of 30 employees, Effegi manages all logistical activities for various market segments.
