Navis Capital Partners exit entire stake in Vietnam’s Godaco Seafood via management buyout
Malaysia-based private equity firm Navis Capital Partners is selling its controlling interest in Godaco Seafood.
VIETNAM – Malaysia-based investor Navis Capital Partners is selling its entire controlling stake in Godaco Seafood through a management buyout, ending its partnership with the Vietnamese seafood processor.
Godaco Seafood, founded in 1997 and located in the Mekong Delta, is among Vietnam’s largest exporters of pangasius, a type of freshwater catfish.
The company distributes its seafood products domestically and to over 70 international markets, including China, Europe, the Middle East, South America, and Southeast Asia.
Nicholas Bloy, managing partner at Navis, said the company has transitioned from a mid-sized pangasius processor into a leading seafood business with integrated operations and competitive pricing on a global scale.
He added that the collaboration with Godaco’s founder and CEO, Mr. Dao, was productive, and wished the management team success as they take control of the company.
Godaco runs a fully integrated operation consisting of an internal feed mill, fish farms, primary and value-added processing facilities, along with cold storage infrastructure.
Navis highlighted that this integrated setup supports product traceability, quality consistency, and efficient cost management, keeping the production competitive internationally.
During Navis’s ownership, Godaco made targeted investments to grow its farming activities and feed production capacity.
The firm also funded expansions in primary processing, by-product utilization, and installed a cooking plant for ready-to-cook seafood products.
These investments helped Godaco become one of the fastest-growing seafood companies in Vietnam, broadening its product range and reducing reliance on volatile commodity prices.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the country’s pangasius exports surpassed US$2 billion in 2024, marking a 10% increase compared to the previous year.
Pangasius accounted for roughly 20% of Vietnam’s overall seafood export revenue, the trade group reported.
Looking forward, VASEP projects pangasius exports to rise between 5% and 10% in 2025, supported by Vietnam’s competitive pricing relative to other major whitefish exporters like Russia and China.
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