Malaysia-based investor Navis Capital Partners has exited its entire controlling stake in Vietnam’s Godaco Seafood through a management buyout.
Founded in 1997 and situated in the Mekong Delta region of Vietnam, Godaco is a leading exporter of pangasius, commonly known as freshwater catfish.
This seafood processor and distributor not only serves its domestic market but also supplies to over 70 countries and regions, including China, Europe, the Middle East, South America, and Southeast Asia.
Navis managing partner Nicholas Bloy stated, “Godaco has evolved from a medium-sized pangasius processor to a leading and fully integrated seafood company with globally competitive quality and pricing.”
He added, “Our partnership with the founder and CEO Mr. Dao has been excellent, and we wish the entire management team great success as they move into their next chapter of development.”
Godaco operates an integrated platform that includes an in-house feed mill, farms, primary and value-added processing plants, as well as cold storage facilities.
This structure ensures traceability, consistency, and quality, while also maintaining globally competitive production costs.
Under Navis’s guidance, Godaco made significant “strategic investments” to expand farm operations and enhance its feed capabilities.
Moreover, the private equity firm invested in the development of primary processing, by-product processing, and a cooking facility to produce ready-to-cook meals.
These investments positioned Godaco as one of the leading and fastest-growing seafood companies in Vietnam, diversifying its product mix and mitigating its exposure to the industry’s volatile commodity cycles.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s pangasius exports reached over $2 billion in 2024, reflecting a 10% increase from the previous year.
Notably, pangasius exports accounted for 20% of the country’s total seafood export value, as reported by the trade body.
Looking ahead, VASEP forecasts a 5-10% growth in pangasius exports from Vietnam in 2025, driven by the country’s competitive advantages over whitefish from nations such as Russia and China.
