United Arab Emirates-based E20 Investment has acquired a majority stake in Turkey’s fish processing business Lucky Fish.

The sea bream and bass processor was previously majority-owned by Mediterra Capital Private Equity, a Turkish firm.

Lucky Fish, founded in 1986, employs around 450 people. Exports constitute approximately 97% of total food sales.

E20 said it looks forward “to leveraging our global expertise and resources to support Lucky Fish in expanding its reach and further enhancing its position in the market”.

Sultan Al Jaberi, group CEO of E20, said: “We are thrilled to announce our investment into Lucky Fish, the leading value-added exporter of sea bass and sea bream from Turkey to Europe. This strategic investment is in line with our investment thesis of investing in sustainable companies operating in the agribusiness sector.

“Lucky Fish’s dedication to quality and responsible practices mirrors our own values, making this partnership an exciting and promising venture.”

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Lucky Fish CEO İsmail Aksoy said: “This strategic investment by E20 Investment marks an important milestone in our growth story. With the support of E20 Investment, we are confident that we will be able to grow globally by adding new countries to our target markets as well as increasing our capacity.

“E20 Investment has given great importance to our capability of delivering premium seafood products to consumers in the developed markets of Europe. I am sure that E20 Investment’s sector expertise and resources will provide us with new opportunities.”

The fish company has its head office in Izmir, with processing and fish feed production facilities in Aydin and Mugla.