Oquendo takes control of octopus player Discefa

Oquendo Capital has upped its share of Cambre, A Coruña, Spain-based octopus purveyor Discefa from 26.8 percent to 71 percent.

Madrid, Spain-headquartered Oquendo offers preferred equity and debt instruments for family-owned businesses and investors, focusing on the lower-mid market in Southern Europe.

Founded in 1982, Discefa is a wholesale seafood distributor and octopus supplier, exporting to than 35 countries. It owns the brands El Rey del Pulpo, Tentak, Pindusa, Algarvío, and Fribó, all focused on frozen octopus, and it operates Ditusa, its bulk distributor in the U.S.

Oquendo first invested in Discefa in June 2016 through the acquisition of the company by GED Iberian, which grew the company’s sales from EUR 72.3 million in 2015 to EUR 86 million (USD 79.4 million to USD 94.4 million) in sales in 2022. However, Discefa’s debt grew, and while terms of the deal were not released, Oquendo’s purchase involves the assumption of a significant portion of Discefa’s debt obligations, according to La Voz de Galicia, which reported Oquendo has undertaken a capital increase and GED Iberian remains a minority shareholder in Discefa.

Discefa has been struggling with lower sales due to global inflation and higher costs of production and operation, magnified by its occupancy of the high end of the market, according to the newspaper.

Photo courtesy of Discefa