Océano Seafood buys Pesfasa out of bankruptcy for EUR 1.8 million

Lima, Peru-based Océano Seafood has finalized the acquisition of Castellón, Spain-headquartered Pescados Fabregat (Pesfasa) for EUR 1.8 million (USD 2 million).

Pesfasa entered bankruptcy in November 2022 and its assets were put up for auction, attracting bids from Océano, Frimo, Cocimar, Bicapital, and Boreas Efficient Management, with Pesfasa’s workers overwhelmingly voting in favor of Grupo Océano’s offer on 3 June. Frimo, a seafood firm based in Monaco, appealed the decision, but a judge ruled on 21 June Frimo’s proposed modification of its offer was invalid, thereby awarding Pesfasa to Océano.

Océano has promised to maintain …

Photo courtesy of Newburyport Fish Market