Hivest Capital will provide the group with all the resources it needs to accelerate its development

Hivest Capital Acquires Majority Stake in French Seafood Leader Réunimer–Pêcherie du Sud

FRANCE
Tuesday, September 17, 2024, 06:50 (GMT + 9)

Hivest Capital Partners S.A.S. (“Hivest Capital”), a European private equity firm, has acquired a majority stake in the Réunimer–Pêcherie du Sud group, a leading seafood company in the Indian Ocean, from its founders and historical shareholders.

Established in 1996 on Réunion Island, the group has expanded both organically and through acquisitions, extending its operations to Madagascar in 2000. The company operates across the entire seafood value chain, encompassing fishing, aquaculture, processing, exporting, and distribution to both French and international markets.

Réunimer–Pêcherie du Sud offers a wide variety of seafood, including toothfish, octopus, shrimp, seaweed, pelagic, and bottom fish, available in multiple formats such as raw, processed, fresh, and frozen. Its clients include retailers, foodservice providers, industrial buyers, and local governments.

With annual revenue of €70 million, the group owns around 30 ships and operates seven processing plants. It is recognized for its commitment to sustainability, holding both MSC certification and the French “Sustainable Fishing” ecolabel, and maintains partnerships with NGOs, universities, and scientific organizations.

In light of the seafood market’s annual growth of 5%, the group sought a financial partner to support its continued expansion. Hivest Capital will help drive the company's next phase of growth, focusing on sustainability and an enhanced ESG strategy. This partnership also ensures a leadership transition while maintaining governance on Réunion Island.

Sébastien Camus and Olivier Méraud, the group’s President and General Manager, stated: "We chose Hivest Capital as a partner for their alignment with our goals of sustainable growth and responsible fishing practices. We are excited to embark on this new phase together."

Roland Hillion of Hivest Capital added, "We are honored to support Réunimer–Pêcherie du Sud in becoming a global leader in high-value seafood products while deepening their ESG commitments and pursuing strategic growth."

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