Antarctica Advisors Acts as Investment Banking Co-Advisor to the Shareholders of Poland’s Graal in the Sale of its Canning Business to Germany’s Müller Group

MIAMIFeb. 21, 2023 /PRNewswire/ — Antarctica Advisors International Corp, the leading Seafood Industry-focused M&A advisory firm, and Rothschild & Co, acted as the joint investment banking advisors to Abris Capital Partners and Mr. Boguslaw Kowalski, the CEO and founder of Graal Capital Group (“Graal”), a leading fish processor in Poland, in the sale of its Canning Business to Lisner Holding, a subsidiary of Germany’s UTM (Unternehmensgruppe Theo Müller) food group. The transaction is subject to Poland’s antimonopoly office approval and excludes Graal’s fresh and smoked fish business (Koral S.A.), produced under the Superfish brand and private label.

Headquartered in Wejherowo, Poland, Graal manufactures canned and chilled fish-based products and prepared foods, branded under the Graal, Neptun and Kuchnia Staropolska brands, and is a major private label supplier. Graal today operates four manufacturing facilities in Poland, employing more than 2,200 people, and exports to 38 countries across EuropeNorth AmericaAsiaAfrica and Australia. The company recorded sales of EUR 350m in 2022.

Wojciech Jezierski, partner at private equity fund Abris Capital Partners commented: “During our partnership with Graal and Bogusław Kowalski we have helped create an unquestionable market leader with a diverse portfolio of branded and private label products. It has been a privilege to work with the extraordinary team at Graal. We are proud of what we have achieved together and are delighted that the business has found such a complementary partner in Lisner to continue its growth strategy”.

Bogusław Kowalski, CEO and founder of Graal stated: “I’m grateful to Abris, my business partner, for all we have jointly achieved over the past six years, which is more than we thought possible. After 30 years of development of the company, I will step aside at Graal after short transition period. Graal and its management is now looking forward to joining forces with Lisner. The Graal and Lisner businesses have strong product complementarity, and I’m convinced that new owner will create fantastic opportunities for Graal to continue its growth strategy, entering new geographic locations in Europe and globally.

Ignacio Kleiman, Managing Partner of Antarctica Advisors, commented: “This landmark transaction in the European seafood industry marks a successful transition of a founder-owned and private equity-backed company entering its next chapter as part of the Müller Group.  Our Seafood M&A team continues to expand its presence in the European Seafood Industry by leveraging our sector knowledge and transactional expertise for the benefit of our clients.

Antarctica Advisors International Corp is an independent investment banking firm providing clients in the Global Seafood Industry with specialized M&A advisory as well as equity and debt capital raising services. The firm’s highly specialized Seafood Team is comprised of experienced professionals with significant knowledge across the Global Seafood Industry, as well as a proven track record of successful transaction execution.

For further information, contact Birgir Brynjolfsson ( or visit