Italian frozen seafood giant Panapesca snapped up 65 percent of ready-to-eat specialist Il Faro Quality Fish at the end of April and is looking to close another acquisition in June, CEO Fabrizio Paesini told IntraFish.

“[Il Faro] will enable us to expand and diversify our product range and offering,” said Paesini.

The acquisition is also one of “strategic importance,” he said, given Il Faro's location in Morciano di Romagna in Rimini, and its foothold in foodservice in the region.