Lithuania-based seafood processors Nordian Group and Norvelita are to move into private-equity ownership.

INVL Asset Management, based in Vilnius, Lithuania’s capital, has signed agreements to buy the businesses.

Combined, the seafood companies generate revenue of €200m ($231.8m), their prospective new owner said.

Nordian Group is a fish processor and wholesaler that supplies Lithuanian retail chains. Last year, the company, which employs more than 170 staff, booked revenue of €46.3m.

Norvelita is the larger of the two businesses. It specialises in salmon and exports around 85% of its production to western Europe. In 2025, the company brought in revenues of €152.7m. It has 650 staff.

Nerijus Drobavičius, a partner for INVL’s Private Equity Fund II, said the firm wants to create “a strong, internationally competitive fish processing group”.

Drobavičius added: “Norvelita’s experience and stable export business will complement Nordian Group’s growth ambitions. We see clear synergies between the two companies – from joint raw material procurement to the development and expansion of new, higher value-added product categories in the EU. This is an investment in a sector where demand for quality products keeps growing, and it puts us in a position to give the end consumer a clearly better choice.”

The founders of both companies will remain minority shareholders and “will continue to help build value in the group”, a statement read.

Ramūnas Gaižauskas, Nordian Group’s founder and main shareholder, said: “We have built one of the strongest fresh fish supply businesses in the Baltic States. Now, we are entering the next stage of growth. Together with our partners, we will be able to implement our ambitious expansion plans much more rapidly, strengthen our position in export markets, expand into new fish and seafood segments, and create even greater value for our customers, employees, and shareholders.”

Jordanas Kenstavičius, Norvelita’s founder and principal shareholder, said the deal would “provide the opportunity to further invest in production capacity and people, while ensuring that the company continues to grow by maintaining quality and customer trust”.