Under the agreement, Sriaqua Seafoods will begin operating under the Kings Infra brand
Kings Infra Ventures has signed an agreement for the proposed acquisition of Sriaqua Seafoods, a merchant exporter based in Vishakhapatnam, Andhra Pradesh. The acquisition, which will be executed under a performance-linked structure, marks a key step in expanding Kings Infra’s footprint across the global seafood value chain.
Under the agreement, Sriaqua Seafoods will begin operating under the Kings Infra brand from the date of signing. All existing contracts and order books of the firm will be honoured under Kings Infra’s management. The acquisition is structured as a transfer of business on a going concern basis, with valuation subject to the achievement of mutually agreed Key Performance Indicators (KPIs) over the next six months.
The Board of Directors of Kings Infra approved the proposal for the takeover of Sriaqua Seafoods at its meeting on April 22, under which the Agreement was concluded at Kochi.
Kings Infra’s entry into Andhra Pradesh, particularly Vishakapatnam, marks a significant boost to the Company’s export business, under the leadership of one of the seafood industry’s best technocrats, Shaji Baby John, Chairman and Managing Director, Kings Infra.
As part of its global expansion strategy, Kings Infra will also establish a seafood distribution entity in the UAE, with Sreeram Inagalla, Managing Partner of Sriaqua Seafoods, taking charge as CEO of the international operations. Chairman Shaji Baby John is optimistic that, with Sreeram’s leadership, overall sales will see an upward trend, emphasising quality and efficiency. Sreeram’s innovative mindset is set to foster sustainable growth and ensure long-term success.