- Business
- Pescanova, S.A. (PVA.MC), operating as the Nueva Pescanova Group, engages in the fishing, farming, processing, and commercialization of seafood products through a vertically integrated model covering over 70 species of fish and shellfish, including shrimp, hake, squid, and other crustaceans and molluscs; it offers fresh and frozen products such as pre-fried, breaded, and battered seafood to retail and foodservice customers across 80 countries on five continents. The company, founded in 1960 and headquartered in Redondela, Galicia, Spain, operates a fleet of 53 fishing vessels, conducts aquaculture in Spain, Nicaragua, Guatemala, and Ecuador, and employs around 10,000 people across four continents, with subsidiaries handling consumer brands like Pescafina and Pescafresco, wholesale supply via Cofrio, and shellfish via Riazor. Recent developments include a proposed EUR 72.6 million capital increase in 2024, guaranteed primarily by main shareholder Abanca, to fund the 2024-2028 business plan following a share nominal value reduction to offset prior losses; a 73% EBITDA rise to EUR 27 million in the first half of 2025 on 7.9% sales growth; and a EUR 16 million investment in a new processing facility in Arteixo, Spain.