Aqua Capital has acquired a majority stake in GeneSeas, a producer of tilapia in Brazil. GeneSeas has units in the states of Sao Paulo and Mato Grosso do Sul. The GeneSeas transaction marks the third deal closed by Aqua Capital in 2015.
Aqua Capital, private equity fund with operations in the agribusiness, logistics and food industries in Brazil and South America, has just acquired the controlling stock of GeneSeas, one of the leading producers of tilapia in Brazil, with units in the states of São Paulo and Mato Grosso do Sul.
With Aqua Capital’s investment, GeneSeas gains greater financial capacity for already planned expansion and modernization investments. The short-term projects include a new packing plant, and a new fattening unit by the Quitéria River, both located in the state of Mato Grosso do Sul.
“GeneSeas is widely recognized in the market, especially for its tilapia production, top quality, efficiency, and sustainable practices. Moreover, it has great potential for growth,” said Aqua Capital’s founding partner Sebastian Popik. With a current 2% market share in tilapia production in Brazil, the company will strive for reaching nearly 5% by 2019. The company also exports to the very rigorous U.S. market, and sells salmon in Brazil.
This is the third large deal closed by Aqua Capital in 2015. The company announced, in the first half of the year, the acquisition of Grand Cru, the country’s largest wine store chain. In the agribusiness market, it acquired Dimicron and merged it into Aminoagro, forming one of the three-largest foliaceous fertilizers in Brazil.
About Aqua Capital
Founded in 2009, Aqua Capital’s investment philosophy is to seek positions in companies with potential for leadership in the agribusiness, food, and logistics chain. “We believe in true and advantageous partnerships. We seek companies that are typically family-owned, which we can offer our support to through a management team that combines operational expertise and and entrepreneurial approach,” said Sebastian Popik. Investors of Aqua Capital also include endowments and funds of funds, and the company has nearly R$650 million in assets under management.