E20 Investment announces that it has acquired a majority stake in Lucky Fish from Mediterra Capital Private Equity.

Turkey is the largest sea bass and bream producer globally, followed by Greece, Egypt, and Spain. Established in 1986, Lucky Fish is one of Europe’s largest vertically integrated sea bass and sea bream production and processing companies. Operations of Lucky Fish encompass the value chain starting from marine farming to harvesting and value-added processing. Lucky Fish, equipped with vertically integrated facilities, is purely focused on exporting its value-added products (such as fillet & dish) to primarily the UK and EU countries. Lucky Fish’s exceptional farming and processing capabilities ensure the presence of its products on the shelves of renowned retail giants in UK and USA. Exports constitute c.97% of total food sales. Lucky Fish employs c. 450 personnel. Mediterra Capital acquired 100% of Lucky Fish in 2013 and has been the driving force for the institutionalization of the company.

Sultan Al Jaberi, Group CEO of E20 Investment, commented: “We are thrilled to announce our investment into Lucky Fish, the leading value-added exporter of sea bass and sea bream from Turkey to Europe. This strategic investment is in line with our investment thesis of investing in sustainable companies operating in the agribusiness sector. Lucky Fish’s dedication to quality and responsible practices mirrors our own values, making this partnership an exciting and promising venture. With this acquisition, we look forward to leveraging our global expertise and resources to support Lucky Fish in expanding its reach and further enhancing its position in the market. Our commitment to nurturing this partnership extends beyond financial investment; we are dedicated to actively contributing to Lucky Fish’s continued success.”

İsmail Aksoy, CEO of Lucky Fish, declared: “This strategic investment by E20 Investment marks an important milestone in our growth story. With the support of E20 Investment, we are confident that we will be able to grow globally by adding new countries to our target markets as well as increasing our capacity. E20 Investment has given great importance to our capability of delivering premium seafood products to consumers in the developed markets of Europe. I am sure that E20 Investment’s sector expertise and resources will provide us with new opportunities.

Murat Erkurt, Founding Partner of Mediterra Capital, said: “When Mediterra Capital acquired Lucky Fish in 2013, we recognized its niche position in exporting value-added seafood products to Europe. Today, we are excited to enter into a strategic partnership with E20 Investment. We believe that this collaboration represents a significant milestone for Lucky Fish. Over the past years, Lucky Fish evolved into a leading name in the sea bass and sea bream sector, driven by its dedication to quality and sustainability. With the entry of E20 Investment, we are confident that the company will achieve outpace its historical growth.”

Dora Capital acted as the financial advisor for the sellers, while Ardent Advisory provided financial advisory services to the buyer. Kolcuoğlu Demirkan Koçaklı Attorneys At Law and KP Law have provided legal advice for the transaction.

About E20 Investment

E20 Investment, established in 2019 and headquartered in the UAE, is a robust and well-supported food and agribusiness investment firm. The primary focus involves investing, developing, establishing, and proficiently managing food, agricultural production and processing. Currently, E20 Investment operates through a network of more than a dozen operating entities worldwide, apart from several strategic investments in allied interest areas with a particular focus on Europe, Central Asia, and Africa.

About Mediterra Capital

Mediterra Capital, established in 2011, is the leading private equity firm specializing in mid-market and SME investments in Turkey. Mediterra Capital has been a driving force behind the growth and development of numerous businesses in Turkey.. Mediterra Capital currently oversees two funds totalling assets under management of EUR 330 million, positioning itself as a trusted partner for businesses aspiring to achieve growth. Mediterra Capital employs a globally recognized team with extensive investment expertise and has successfully deployed investments of USD 900 million to 19 companies in Turkey underlining its substantial financial capabilities and track record.