IRIDA acquires the majority of shareholding of Greek aquaculture company

The company acquired 83.5% of Galaxidi Marine Farm, one of the largest Greek aquaculture companies.

Credits: IRIDA
November 15, 2023

Greek fish feed manufacturing company IRIDA acquired 83.5% of Galaxidi Marine Farm, one of the largest Greek aquaculture companies.

Galaxidi is well known for its high-quality fish and exports to the European markets. Many of its farms are ASC certified as well as a proportion of its production is certified as organic according to the EU legislation. Galaxidi’s wholly owned fish farms are located in the Corinthian Gulf which is well known for its crystal-clear waters, and in L’Ametlla, Spain in an open sea, brand new farm. The total production of Galaxidi exceeds 15,500 tons of fish, of which 13,500 tons are produced in Greece and 2,000 tons in Spain, while annual turnover exceeds EUR 80 million.

IRIDA owns two modern fish feed factories, producing over 120,000 tons of feeds with an annual turnover of EUR 180 million, supplying the Greek and other Mediterranean markets. Currently, exports exceed 35% of total sales.

IRIDA has recently made significant investments in pioneering projects. This includes acquiring a majority stake in Aquatic Biologicals, a university spin-off specializing in autogenous vaccines and phage therapy. Additionally, IRIDA has acquired Vetcare, through which it provides products and services for health management to the aquaculture industry.

With this acquisition of Galaxidi, IRIDA demonstrates once again its full commitment to Mediterranean aquaculture and its future, as well as its endeavor to seek synergies across the whole production chain which can further be enhanced through innovation.