The year 2025 brought several significant ownership and consolidation moves within the fish industry, demonstrating that the sector is increasingly seeking scale, greater operational resilience, and a stronger negotiating position. This is evident both in Poland and across European markets, where acquisitions are increasingly serving not only growth but also the securing of access to raw materials, sales channels, and know-how.
The European fish market in 2025 remained under strong pressure from rising raw material costs, regulatory changes, and increased demands for product traceability. In this environment, mergers and acquisitions became a natural tool for strengthening market positions, particularly for companies looking to increase scale, reduce purchasing risks, and better control the supply chain.
According to analyses of the fishing market, 2025 was a very active year for M&A transactions, with acquisitions of producers and processors by larger wholesalers and distributors, as well as deals focused on vertical integration, being particularly noticeable. In practice, it is increasingly individual brands operating locally that are being superseded by groups capable of combining processing, logistics, distribution, and sales.
Poland did not see a large number of spectacular takeovers in 2025, but several transactions were of significant importance to the market. One of the most important examples was the finalisation of the earlier acquisition process of Grupa Graal's assets by Lisner, which included, among other things, fish preserves, marinades, and ready meals, clearly strengthening Lisner's position in the Polish fish processing market. The transaction price was not disclosed in public materials, but the sheer scale of Graal shows its significance – the group reported annual sales of around PLN 1.6 billion and employed over 2,000 people.
Another important move was the takeover of the company Koral S.A. by an Indian group Captain Fresh. The transaction was finalised at the beginning of 2025 and was based on a share exchange, making the existing owners of Koral shareholders in Captain Fresh. Although the value of the transaction was not disclosed, it is known that Captain Fresh generates over £600 million in annual turnover, which clearly shows the investor's scale and the importance of this operation for the Polish fish market.
The third significant example was the expansion Suempolu, which took over 100% shares in a Belgian company Van Biesen & Pieters. The purchase price has not been disclosed, but the strategic significance of the transaction is clear: Suempol is strengthening its presence in Western Europe and expanding its operations to include the shrimp segment and a more advanced commercial presence outside of Poland.
The European seafood market in 2025 also saw several large, well-documented moves. The most high-profile example was the transaction Mowi – Nova Sea, which was announced at the end of 2024 but widely commented on as one of the most important consolidation operations affecting the balance of power in 2025. Mowi paid around 625 million euros, strengthening its position in the Norwegian salmon segment.
A significant example was also the sale of assets Grieg Seafood in Canada and Finnmark for Cermaq, highlighted as one of the more significant salmon sector transactions in 2025. The transaction was also cited in industry materials SeaQureFarming Group – Dawnfresh, which showed a growing investor interest in production assets related to more controlled farming models.
Additionally, industry reports indicate that in 2025, particularly active transactions in the European market concerned processing, distribution, and technology companies supporting aquaculture and processing. This confirms that consolidation no longer solely affects fish producers themselves, but also includes companies providing solutions for the entire value chain.
The most important motive for acquisitions in the fish industry in 2025 was the need for resilience. Greater scale means a better negotiating position with retail chains, a greater ability to diversify supplies, and easier financing for modernisation. In practice, acquisitions are becoming a way to accelerate development where organic expansion would be too slow or too risky.
Another important motif was regulatory compliance and operational safety. In a sector where the origin of raw materials, full documentation, and compliance with EU requirements are crucial, purchasing an established entity with ready-made operational and commercial infrastructure can be more profitable than building everything from scratch. Therefore, increasingly, the value of a company is determined not only by revenue but also by the quality of its processes, access to raw materials, and supply chain predictability.
For Polish companies, the conclusions are clear: the market will continue to professionalise, and entities capable of consolidation, investment, and rapid adaptation will gain an advantage. Poland has a strong export and production position, but to maintain momentum, it requires further investment in technology, quality, and supply chain organisation.
It's also becoming increasingly clear that Polish companies are no longer solely targets for acquisition, but are themselves increasingly becoming active participants in consolidation. Suempol is a good example here – it's a Polish company using its strength to build a position abroad. This is an important change because it shows the maturing of the entire sector and a greater readiness to compete at the European level.
The most important conclusion from 2025 is that consolidation in the fish industry is increasingly Strategic Transactions such as Lisner–Graal, Captain Fresh–Koral, Suempol–Van Biesen & Pieters, and Mowi–Nova Sea demonstrate that today the stakes are not only about gaining a larger market share but also about controlling raw materials, accessing key product categories, and strengthening geographic presence.
It is also apparent that the lack of a disclosed transaction price does not imply lesser market significance. In the fishing industry, it is the strategic effect – a shift in the balance of power, the acquisition of expertise, entry into a new market, or securing the supply chain – that can be more important than the value stated in the announcement itself. For market participants, this is a clear signal: the coming years may bring further acquisitions, and the ability to cooperate, integrate, and build scale will become one of the main competitive advantages.
In times of consolidation and changes in ownership, it becomes particularly important to have a place where people can share experiences, assess trends and build new business relationships. POLFISH fulfils precisely this role. It is at trade fairs and at Scene Debate We can discuss how mergers, acquisitions and investments are changing the map of the fish industry in Poland and Europe.
For market participants, this is not only an opportunity to observe competitors' movements, but also to find partners, investors, and new avenues for growth. In 2025, the industry clearly showed that changes at the top are no longer an exception – they are becoming part of the new market logic.
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