Brasmar, the Portuguese seafood firm, has announced it has acquired Foncasal, a Spanish company specializing in cooked octopus and other chilled seafood products.
Based in Logrono in Spain’s Rioja region, Foncascal markets a range of seafood including octopus, squid, prawns and crab under brands including Nuchar, Baltia, Moncasa and Montenia. The company has annual turnover of €18 million ($20 million) and has an international presence, especially in the Mediterranean and North America.
“With this acquisition, Brasmar is strengthening its presence in the Iberian market and increasing its seafood portfolio”, Brasmar said in a statement. “Founded in the 1990s from the combination of two canning businesses, Foncasal offers high quality products with strong recognition in the market. The company benefits from the latest technology in the sector, and invests a proportion of its profits in R&D every year”.
The Foncasal deal is Brasmar’s latest acquisition, and follows on from its purchase of another Spanish firm – salmon specialist La Balinesa – in May.
Source: Jornal Economico