KARAVELA AND LARSEN ANNOUNCE BUSINESS DEAL

Karavela and Larsen announce business deal. The owners of Larsen Danish Seafood and the owners of Karavela have entered into an agreement where Karavela takes over the trading and production activities of Larsen Danish Seafood and the Larsen brand.

The sale of Larsen Danish Seafood to one of Europe’s most experienced producers, means that the customers will continue to get high quality Larsen products. “We are excited about this opportunity and our plan is to expand sales to the German market and strengthen the position of the Larsen brand in the future” says Andris Bite, CEO of Karavela.

Jan Petersen, CEO of Larsen Danish Seafood states: “The sale of the Larsen brand and the trading and production activities is a result of having found that it has been very difficult to gain profitability in our company. Canned production is a low margin business dependent upon large scale production and the sale of Larsen Danish Seafood to Karavela makes good sense for both companies.”

The progressed deal is another milestone for continuous Karavela growth and widening existing export markets and product portfolio. Taking over Larsen products gives Karavela a chance to expand spectrum of product flavors and extension of product range both in ambient and chilled fish markets.

Karavela is one of the biggest and fastest growing canned fish producers in Europe, with wide range of products, including Atlantic mackerel, herring, salmon, tuna, sprats and naturally smoked products mainly produced for private label customers and exported to Scandinavia and Western Europe.

Karavela’s net turnover in year 2018 was 41,6 mil. EUR, which resulted in 7% increase compared to year 2017. In year 2018 company has produced 71 million cans of canned fish, which were exported to 36 countries around the world.

Larsen Danish Seafood is a manufacturer and seller of canned seafood, mainly Atlantic mackerel, herring, kippers, trout, and salmon. Larsen is well-known and strong brand in Germany and Denmark.