Graal, a leading fish processor in Poland, has sold its canning business to Lisner Holding – a subsidiary of Unternehmensgruppe Theo Müller food group.

The transaction is subject to Poland’s antimonopoly office approval and excludes Graal’s fresh and smoked fish business (Koral S.A.), produced under the Superfish brand and private label.

Headquartered in Wejherowo, Poland, Graal manufactures canned and chilled fish-based products and prepared foods, branded under the Graal, Neptun and Kuchnia Staropolska brands, and is a major private label supplier. 

Graal operates four manufacturing facilities in Poland, employing more than 2,200 people, and exports to 38 countries across Europe, North America, Asia, Africa and Australia. The company recorded sales of EUR 350m in 2022.

Bogusław Kowalski, CEO and founder of Graal stated: “I’m grateful to Abris, my business partner, for all we have jointly achieved over the past six years, which is more than we thought possible. 

“After 30 years of development of the company, I will step aside at Graal after short transition period. Graal and its management is now looking forward to joining forces with Lisner. 

“The Graal and Lisner businesses have strong product complementarity, and I’m convinced that new owner will create fantastic opportunities for Graal to continue its growth strategy, entering new geographic locations in Europe and globally.”

Ignacio Kleiman, Managing Partner of Antarctica Advisors, said: “This landmark transaction in the European seafood industry marks a successful transition of a founder-owned and privateequity-backed company entering its next chapter as part of the Müller Group.  

“Our Seafood M&A team continues to expand its presence in the European Seafood Industry by leveraging our sector knowledge and transactional expertise for the benefit of our clients.”