INVL Private Equity Fund II has signed agreements to acquire Lithuania's Nordian Group and Norvelita, a deal that would create one of the largest fish processing groups in the Baltic region with combined annual revenue of about EUR 200 million. The EUR 410 million fund expects to complete the transaction in the coming months, subject to Lithuanian Competition Council approval, and said Norvelita's export-focused salmon business and Nordian's fresh-fish distribution to major Lithuanian retailers should create synergies in raw material procurement and higher value-added product development in the EU; both founders will retain minority stakes. Norvelita posted EUR 152.7 million in consolidated revenue in 2025, exports roughly 85% of its output to Western Europe and employs about 650 people, while Nordian reported EUR 46.3 million in revenue and employs more than 170 people. The transaction marks the fund's third investment as it targets 10 to 12 high-growth businesses across the Baltics, Poland and the wider European Union, following investments in Eesti Keskkonnateenused and POLMED, while INVL Asset Management, part of Invalda INVL Group, oversees EUR 2.1 billion in assets.