INVL Private Equity Fund II targets regional scale with dual fish processor deal

INVL Private Equity Fund II has agreed to acquire Lithuanian fish processing firms Norvelita and Nordian Group to create a regional industry leader with combined annual revenues of approximately EUR 200 million, pending regulatory clearance.

INVL Private Equity Fund II has entered into definitive agreements to acquire a pair of Lithuanian seafood processing businesses, Norvelita and Nordian Group. The consolidation strategy aims to create a major regional processing powerhouse with combined annual revenues reaching nearly EUR 200 million. Completion of the transaction remains subject to regulatory review and approval from the Lithuanian Competition Council.

This strategic move allows the EUR 410 million mid-market fund to capitalize on growing global demand for premium seafood products by scaling up processing capacity and expanding international distribution channels. Combining Norvelita’s established export network with Nordian Group’s fresh supply footprint creates immediate operational synergies across raw material procurement, cross-selling, and joint product development within the European Union market. Founders of both entities will retain minority stakes to support post-merger integration and operational continuity.

The deal highlights rising private equity interest in the European food processing and aquaculture value chain, where scale is increasingly critical to offset supply chain volatility and navigate strict international standards. Operating a 25,000-square-meter facility and processing 18,000 tonnes of fish annually, Norvelita generated EUR 152.7 million in revenue in 2025, primarily exporting to Western Europe. Nordian Group, a fresh fish supplier to domestic retail chains, recorded revenue of EUR 46.3 million during the same period. Managed by Baltic alternative asset manager INVL Asset Management, INVL Private Equity Fund II focuses on high-growth mid-market enterprises across the Baltic region, Poland, and the broader EU.

For institutional investors and retail stakeholders, the creation of a unified processing group signals accelerated consolidation within the Baltic food manufacturing sector. Enhanced production capabilities and direct access to major European retail chains position the combined entity to compete directly with larger Western European processors, setting a precedent for further cross-border M&A activity in regional agribusiness.