Germany-based seafood supplier Crusta Nova has a new majority shareholder, with the investors aiming to expand its position in Europe.
A “group of investors” advised by private-equity firm Rigeto Unternehmerkapital has acquired the unspecified stake in Crusta Nova, which is located in Langenpreising near Munich. Financial terms were not disclosed.
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Dr. Wolf Hoffmann, associate partner at Rigeto, said the investor group comprised “Rigeto management and a small group of German, Swiss and Austrian entrepreneurs”.
Set up in 2012, Crusta Nova sells seafood through major supermarket chains and restaurant operators in Germany and Austria, as well as speciality fish shops. The business also has a direct-to-consumer service marketing products in both countries. It uses “land-based aquaculture” for some of its products, with, for example, a production site for its shrimp in Langenpreising.
Crusta Nova founder Dr. Fabian Riedel will stay with the business as managing partner. Growth plans include the expansion of in-house shrimp production, the development of the company's retail range, and "further internationalisation", a statement announcing the deal said.
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By GlobalDataDr. Hoffmann told just-food Crusta Nova generated annual turnover "in the mid single-digit-million range" and the company is growing "rapidly with double-digit growth rates".
Sales volumes generated by each of Crusta Nova's food retail, foodservice and direct-to-consumer businesses are "pretty much comparable", he added.
