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Paula Fish snaps up Polish salmon processor Limito

CEO Robert Wijata sells his 51% stake after 14-month investment.

Polish Baltic sprat and baby herring producer Paula Fish has bought the majority stake in Polish salmon smoker Limito.

Paula Fish bought Robert Wijata’s 51 percent stake in Limito for an undisclosed amount at the beginning of May, Pawel Nowakowski, sales and marketing managing director at the firm, told IntraFish.

“At the moment Paula Fish is the major shareholder of Limito with 51 percent of shares,” he said.

Private equity fund Avallon maintains a 37 percent stake in the company, and the remaining shares belong to private investors.

Nowakowski said he was unable to comment on why Wijata decided to sell all his shares in the company.

The move means Wijata is no longer CEO of Limito or part of the company.

For now Limito will be run by Slawomir Gojdz, owner of Paula Fish, and Bernadeta Majewska, CFO of Paula Fish.

“For now we are looking at engaging a new strategy, but will be able to tell more in a few weeks,” Nowakowski said.

Wijata, former chief of rival processor Graal, took over as CEO of Limito in March 2015 and after acquiring a 51 percent stake in the company from owner Avallon Funds.

IntraFish was unable to get hold of Paula Fish to comment on the story.

However, the company’s website says it is the biggest Baltic sprat and baby herring producer in Poland, and mainly dealing in IQF and frozen blocks.

It also produces flounder and, through partners, can arrange for the purchase of other species such as salmon, cod, haddock and saithe.

At the beginning of 2013, it opened new a production facility where the output is up to 500 metric tons of fish per day, the website says.

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