A group of investors advised by Rigeto Unternehmerkapital have bought a majority stake in German seafood group Crusta Nova for an undisclosed sum.
Based in Langenpreising near Munich, Crusta Nova breeds saltwater shrimp in a land-based aquaculture system and sells its products to restaurants and food retailers, as well as to end-consumers. According to Rigeto, Crusta Nova is the leading German shrimp farm and seafood brand.
Founded in 2012, the company operates a B2B seafood platform and B2C ecommerce business (via Germany and Austria) for sustainable seafood and fish. With the support of specially-developed software-supported cycle technology, Crusta Nova says it is possible to bring the sea onto land.
Following the acquisition, Crusta Nova founder Fabian Riedel will continue to hold a significant stake in the company and work on its growth strategy.
Together with Rigeto, the company is looking to expand its position in European shrimp farming – by increasing its house shrimp production – and accelerate the growth of its seafood wholesale business and ecommerce business internationally.
This includes establishing a company headquarters with a brand store in Munich-Schwabing, expanding its workforce at both locations and further developing its retail range.
Fabian Riedel, managing partner and founder of Crusta Nova, said: “We have reached important milestones in the establishment of land-based breeding in Langenpreising. With Rigeto, I have the ideal partner at my side to expand the growth that has already been initiated and to initiate important steps, among other things, in the area of new sales markets, range expansion and expansion of sales and marketing.”
Rigeto pursues a long-term investment approach to the development companies it supports, representing a group of German and Swiss entrepreneurs.
Wolf Hoffmann, associate partner at Rigeto Unternehmerkapital, added: “For Rigeto, the stake in Crusta Nova marks the entry into another sustainable growth market with innovative technology.
“Changing consumer habits such as online grocery retailing as well as increased consumer awareness for ecologically or sustainably produced foods and healthy, protein-rich nutrition are current trends in the food market that are served by Crusta Nova.”
© FoodBev Media Ltd 2020
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