October 10th, Stockholm: Summa Equity has sold Milarex, a leading international seafood company specializing in value-added salmon products to Pangea, a Norwegian industrial investment company.

The exit represents a major milestone for Summa Equity’s Fund I, which first invested in Milarex in 2017. That investment launched Summa’s Sustainable Foods theme and laid the foundation for a series of impactful investments in the sector. During its holding period, Fund I has consistently delivered strong results across its portfolio, with several successful exits, including Documaster, Sortera, Pagero, and Lakers Group – underscoring its value-creation strategy.

Founded in 2016 by Jerzy Malek, Milarex has rapidly scaled into one of the most advanced players in secondary seafood processing. Headquartered in Norway, the company delivers a large variety of safe and sustainable salmon products. The product range includes smoked, fresh and frozen products in a wide range of formats and the company operates a purpose-built salmon processing facility in Poland.The company has sales offices in several markets.

Under Summa’s ownership, Milarex has delivered steady growth and resilience. Revenue has increased five-fold and the company has been profitable since inception. Milarex has in this period extended its geographical reach to serve more than 30 markets globally, including a successful entry to the US market.

The company’s state-of-the-art facility and salmon expertise has enabled it to position itself as a leading global player in salmon value-added products. The company is working to achieve its Science Based Targets, and operates its plant entirely on green electricity and has cut nearly all its direct emissions.

Subject to the fulfillment of closing conditions. DNB Carnegie acted as exclusive financial advisor to the sellers in connection with the transaction.