Greek fish farming passes into the hands of the Spaniards

Most Greek fish farms are now owned by a Spanish business, after a deal between the Gerulanos family and Grupo Profand for the sale of a controlling stake fish farms in Kefalonia.

Since last year, under the auspices of the newly established company Avramar Groupbased in Valencia, and the shareholders of American and Arab Capitals, the once-great players on the field Nireus, Selonda and Andromeda Seafood have been drawn into a game that has left them drowning in unsustainable debt!

In fact, today the fish farms of Avramar and Kefalonia control most of the domestic production, and this is about 90,000 tons per year. The only one of the three “big” companies in the industry that remains Greek is Philosofish, formerly called Bitsakos. (Μπιτσάκος).

The deal with the Kefalonia fish farms came as a surprise to the market and comes at a time when fish farms are making serious efforts to recover from the downturn and challenges experienced during the pandemic.

Grupo Profand reportedly received a 60% stake, without specifying the amount of the transaction. Greek edition newmoney reports that there is a loophole in the agreement for the full acquisition of the company in the future.

It should be noted that the Profand group is the second largest in terms of sales in the field of catches in Spain with a presence in 60 countries, with 12 factories and more than 3,000 employees, it achieved sales of 664 million euros in 2020 compared to the previous year and 471 million euros in 2019.


According to data published ELSTATthe total aquaculture production in 2020 increased by 3.4% and amounted to 133,168.2 tons compared to 2019, an increase of 10%.

Dorada (sea ​​bream) in the top of sales, showing the largest volumes. In particular, 62,269 tons of sea bream were produced, which resulted in sales of 289.81 million euros, showing an increase of 12.1% and 14.5% respectively.

In second place was sea ​​basswhose production amounted to 41,173 tons, showing a slight decrease of 0.2%, and the cost amounted to 209.254 million euros, recording an increase of 4.4%.

However, the champion in terms of growth in both quantity and value was λαβράκι (laurel)whose production almost doubled in 2020, which was reflected in the price, which increased by 33.8%!

In contrast, organic fish farming continued to produce low yields due to limited demand. In particular, the production of organic fish farming in Greece has reached only 800 tons per year, which is 0.7% of the total production.

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