Malaysia-based investor Navis Capital Partners has exited its entire controlling stake in Vietnam’s Godaco Seafood through a management buyout.
Founded in 1997 and based in the Mekong Delta region of Vietnam, Godaco is one of the country’s largest exporters of pangasius, or freshwater catfish.
Apart from its domestic market, the seafood processor and distributor currently supplies to more than 70 countries and regions, including China, Europe, the Middle East, South America and South East Asia.
Navis managing partner Nicholas Bloy said in a statement: “Godaco has evolved from a medium-sized pangasius processor to a leading and fully integrated seafood company with globally competitive quality and pricing.
“Our partnership with the founder and CEO Mr. Dao has been excellent and we wish the entire management team great success as they move into their next chapter of development.”
Godaco operates an integrated platform encompassing an in-house feed mill, farms, primary and value-added processing plants, and cold storage facilities.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe investor added that this type of structure ensures traceability, consistency, and quality, while maintaining globally “competitive” production costs.
Under its guidance, Navis said Godaco made “strategic investments” in expanding farm operations and its feed capabilities.
Furthermore, the PE firm invested in the development of additional primary processing, by-product processing and a cooking facility for the production of ready-to-cook meals.
“These investments catapulted Godaco into one of the leading and fastest-growing seafood companies in Vietnam allowing it to diversify its product mix and to reduce its exposure to the volatile commodity cycle common in the industry,” the firm said.
The Vietnam Association of Seafood Exporters and Producers (VASEP) estimates Vietnam’s pangasius exports reached more than $2bn in 2024, up 10% from the previous year.
Pangasius exports also accounted for 20% of the country’s total seafood export value, the trade body said.
Looking ahead, VASEP forecasts pangasius exports from Vietnam will grow by 5-10% in 2025, driven by its competitive edge over other whitefish from countries such as Russia and China.
