Spanish seafood supplier Iberconsa could soon be the subject of a takeover, with local reports claiming the business’ owners are looking to sell.

The company, formally known as Ibérica de Congelados, is majority-owned by Spain-based private-equity firm Portobello Capital after a deal in 2015.

Iberconsa’s founders own the rest of the business and are also looking to sell, Spanish business publication Cinco Dias has reported

Nomura has been hired to look into a sale, with an initial assessment of Iberconsa’s valuation at EUR600m (US$739.4m), the newspaper said.

just-food approached Portobello for comment but the buy-out house had not returned a request for comment at the time of writing.

Iberconsa is said to be one of the top three frozen-seafood companies in Spain. It is a vertically-integrated business, covering fishing, manufacturing, distribution and marketing. Its main product lines are hake, squid and shrimp.

Vigo-based Iberconsa exports 45% of its annual sales.