Seafood Group Milarex Sold to Norwegian Investor Pangea
Norwegian industrial investment firm Pangea has purchased seafood processor Milarex from private equity group Summa Equity.
Milarex has a presence in over 30 markets worldwide and was established in 2016. A year later, the company sold a stake to Summa Equity.
Summa Equity said Milarex has "rapidly scaled into one of the most advanced players in secondary seafood processing"
The company markets smoked, fresh and frozen salmon, with a processing site in Poland. Under Summa Equity's ownership, revenues at Milarex increased five-fold.
Financial terms of the sale to Pangea were not disclosed.
Author's summary: Pangea buys Milarex from Summa Equity.