Russian Fishing Company (formerly Russian Sea - Production)

Russian Fishery Company, RRPK (until 2014, Russian Sea - Dobycha, (RMD)) was created in 2011 by private Russian investors to consolidate Russian fishing assets in different regions of the country.

Owners

As of July 2014, Gleb Frank, son-in-law of Gennady Timchenko, and Maxim Vorobyov own equal stakes in the Russian Sea - Dobycha company (34% each), which is not part of the Russian Sea group^[1].

Aktivs

As of February 18, 2014, the RMD includes Far Eastern mining companies:

• OJSC "TOURNAMENT" (Pacific Department of Field Exploration and Research Fleet),
• ZAO INTRAROS,
• Vostokrybprom LLC and
• Sovgavanryba LLC, fishing in the seas of the Far Eastern Basin.

According to the SPARK database, on August 9, 2019, several companies were created at once. These are:

• Kalmar-I LLC (79.53% owned by the Russian Fishing Company, 20.47% owned by Tournif JSC),
• Macrurus-T LLC (75.75% of the Russian Fishing Company, 24.25% of Intraros JSC),
• Herring-T LLC, Saira-I LLC, Terpug-I LLC, Treska-T LLC.

All companies are registered in Vladivostok and they have one general director - Vologdin Sergey Anatolyevich. The main activity of the companies is marine fishing.

For 2019, the Russian Fishing Company is one of the largest Russian fishing companies. RRPK has the right to extract more than 300 thousand tons of fish per year. The company produces pollock, herring, cod, lemonema and provides the entire production chain - from catch to processing. More than 80% of the production is pollock catch.

History

2025: Immigrants from the Rockwell Capital investment company bought the Russian Fishing Company

On October 10, 2025, the owners changed in the holding structure controlling one of the largest fishing players in Russia - the Russian Fishing Company (RRPK) and the Russian Crab. The key management company LLC Elbrus Partners came under the control of new persons. According to the Unified State Register of Legal Entities, the main shareholders of Elbrus Partners were Marine Investments JSC (37.55%) and Pacific Investments JSC (20%) (the beneficiary of both structures is Rockwell Capital investment director Maxim Burobin) and DV Management JSC (4.9%), which is controlled by Rockwell Capital investment manager Nikita Mitrofanov.

Former top managers of companies Yevgeny Orlov, Stanislav Aksenov and Savely Karpukhin left the owners. A controlling stake of 37.55% was retained by Solor JSC, whose beneficiaries were not disclosed.

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Фото: Freepik

According to Kommersant, Elbrus Partners controls almost the entire RRPK business through Ost Invest Holding and 70.1% in Russian Crab. Until the spring of 2022, these assets belonged to Gennady Timchenko's son-in-law Gleb Frank, who fell under US sanctions. According to SPARK, now Gleb Frank owns 29.9% of the shares in Rockwell Capital LLC, 70.1% is owned by Ost Invest Holding LLC.

According to Kommersant's interlocutor in the fishing market, the complication of the ownership structure may be a response to sanctions pressure, which negatively affects the export-oriented fishing business.

Vladimir Belyavtsev, head of bankruptcy practice a.t.Legal, also does not exclude that the transaction may be a stage in pre-sale preparation of assets. However, the investment director of BGP Capital Yuri Levitsky doubts the imminent sale, indicating that the companies themselves are in the process of acquiring new assets.^[2][3]

2024: Appointments of Savely Karpukhin as CEO

In mid-May 2024, the Russian Fishing Company (RRPK) announced the change of CEO. Olga Naumova will be replaced by Savely Karpukhin, who previously worked in the group as director of strategy and commercial issues. Read more here.

2023: Sale of two firms with rights to catch 15,000 tonnes of herring

The Russian fishing company (RRPK) sold two companies to co-owner of Oceanrybflot Valery Ponomarev - OO Herring-D and OOO Herring-V - with the rights to catch 15 thousand tons of herring. This is evidenced by the data of the Unified State Register of Legal Entities (USRUL), the corresponding records were made there at the end of December 2023.

The RRPK confirmed to Kommersant the sale of assets and stated that the deal was concluded on mutually beneficial terms. Which ones are not specified.

Russian Fishing Company (RRPK) sold two companies to co-owner of Oceanrybflot Valery Ponomarev

As noted in the RRPK, the company will focus on the extraction of pollock, and the catch of herring leads in a short period of time, during the least active period of pollock fishing, from November to mid-January. The group added that they plan to "return the sold rights in full" in the next two years through participation in the investment quota program. At the second stage of the program, quotas are allocated for catching pollock and herring in exchange for the construction of ships, refrigerated trucks and factories.

The head of the Fisheries Information Agency, Alexander Savelyev, in a conversation with the newspaper, suggested that the optimization of the quota portfolio could have been required due to an increase in the debt burden of the RRPK due to participation in the investment quota program, the construction of most ships on which continues, and the value of contracts is growing. Savelyev allows the conclusion of transactions to sell part of the quotas by other large holdings. RRPK, they say in the group, does not plan to sell other quotas in the near future.

By the end of December 2023, the RRPK owns fishing quotas for 376 thousand tons of fish, including 330 thousand tons of pollock. Holding "Oceanrybflot" specializes in the extraction of pollock, squid and herring. In 2022, the company caught more than 277 thousand tons of fish and produced almost 180 thousand tons of products at its own factories.^[4]

2022: Gennady Timchenko's son-in-law left the capital of the Russian Fishing Company

On December 21, 2022, it became known about the withdrawal of Gleb Frank from the capital of the Russian Fishing Company (RRPK), selling a 29.9% stake to existing co-owner partners. According to the results of the transaction, Ost Invest Holding consolidated 100% in the authorized capital of RRPK, follows from the data of the Unified State Register of Legal Entities, cited by TASS.

The RRPK told the agency that the transaction was carried out on market terms. Its financial side has not been disclosed. RBC clarifies that Ost Invest Holding owns 99.9% of the share of the authorized capital. The remaining 0.01% belongs to RMD YUVA, owned by Savely Karpukhin, Director of Strategy and Commercial Affairs.

Gleb Frank

By the end of 2022, the Russian Fishing Company is one of the largest Russian producers of wild white fish, one of the leading producers of pollock products in Russia and in the world. The main commercial species are pollock and Pacific herring. More than 80% of the catch comes from pollock. The total volume of the quota for the extraction of aquatic biological resources is 325,400 tons.

Gleb Frank, the founder of the RRPK, came under US sanctions on March 24, 2022. On the same day, it became known that he sold 70.09% in the RRPK to top managers of the company - Yevgeny Orlov, Anton Chertkov, Alexander Sapozhnikov, Savely Karpukhin and Stanislav Aksenov. They also became the owners of 70.1% and the Russian Crab Group of Companies. The company's message then also claimed that the transaction was held at a market price. As of December 21, 2022, Frank still retains 29.9% in Russian Crab. Frank, through representatives, said that he intends to focus on personal projects in Russia, which he will report additionally, Forbes reports.

According to Forbes, Gleb Frank is married to the daughter of billionaire Gennady Timchenko Ksenia Frank. The latter also fell under US sanctions in March 2022. Frank, through representatives, said that he intends to focus on personal projects in Russia, which he will report additionally.^[5]

2014: Name change

Since 2014, the Russian Sea - Production has been called the Russian Fishing Company (RRPK).

2013: Purchase of assets from Chinese

In January and May 2013, four fishing companies, which, according to the FAS, are controlled by the Chinese from Pacific Andes, were acquired for $540 million by the Russian Sea - Dobycha (RMD) company, owned by the brother of the Moscow Region governor Maxim Vorobyov and the son of ex-Minister of Transport and son-in-law Gennady Timchenko Gleb Frank. As a result, RMD, through acquired companies, received 13% of the all-Russian quota for pollock catch, which corresponds to 180 thousand tons of fish per year. According to the results of 2013 RMD sold pollock for $139 million with a total revenue of $170 million.

In October 2013 The FAS allowed Russian Sea - Dobycha to buy two more companies that were suspected of being affiliated with foreigners. However, the deal for May 2014 has not yet taken place.

"The negotiations, unfortunately, dragged on a lot, and, from our point of view, through no our fault," Ilya Vlasenko, a representative of the RMD, commented on the failed deal to RBC.

Notes