Malaysia-headquartered private equity firm Navis Capital Partners has sold its controlling stake in Vietnamese seafood producer and processor, Godaco Seafood, in a management buyout, it said in a statement on Tuesday.
Navis, which manages over $5 billion in assets, said that Godaco had grown substantially since its investment into a, "fully integrated seafood company with globally competitive quality and pricing." It did not disclose any financial details of the transaction.
Navis invested in Gadaco in December 2012, its website showed.
Gadaco, founded by entrepreneur Nguyen Van Dao, operates throughout Vietnam's Mekong Delta and exports its products to over 70 countries globally, including China, Europe and the Middle East.
Its main products include pangasius fish, a freshwater fish widely farmed in the region, as well as fish balls, scallops and Alaska pollock.
(Reporting by Yantoultra Ngui; Editing by Rachna Uppal)