Grimsby seafood firm bought out by European operator backed by Japanese giant

Grimsby’s Northcoast Seafoods has been purchased out by way of a big European participant sponsored by way of an international massive.

The retail-focused producer, grown from a unmarried North Atlantic prawn buying and selling entity by way of managing director Fridrik Thorsteinsson over the last 20 years, now operates from a big processing base on South Humberside Industrial Estate.

It has been received by way of Dutch industry Seafood Connection, a part of the Japanese Maruha Nichiro crew.

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Mr Thorsteinsson, who was once recognized with an extraordinary mind situation closing yr, is stepping down from the helm, however will proceed as marketing consultant and procurement director as he battles with the nerve cell-degenerating a couple of machine atrophy.

He mentioned he’s “proud and happy to join the largest seafood business in the world” and is assured that this new courting will support the United Kingdom industry.

Seafood Connection leader government Jan Kaptijn described Northcoast as a “specialised player in the retail market” pointing out that “with innovative sustainable products it fits perfectly in Seafood Connection’s vision going forward,” including that each can supplement each and every different of their respective markets.

He mentioned: “I’m satisfied to in any case have a super spouse to make the bounce around the North Sea and be extra lively in the United Kingdom.

Northcoast Seafoods launched with a Canadian prawn specialism 21 years ago.
Northcoast Seafoods introduced with a Canadian prawn specialism 22 years in the past.

“This merger and acquisition granted a long-kept wish of Seafood Connection; being present through locally knowledgeable companies and people in all of Europe’s largest seafood markets. And with Seafood Connection’s proven track record on the retail market in Europe, Northcoast Seafoods has the potential to create an even stronger position on the UK seafood market. We are excited for the growing potential this strategic partnership will bring.”

Mr Kaptijn mentioned the “very able” wider control staff will probably be retained, with Adrian Crookes as managing director, having “taken an important role in Northcoast Seafoods acquisition as well as in the restructuring of the company in the past three years”.

He is joined by way of business director Christopher Baird, “a key long-time employee who has an important role in the wholesale and retail business development and diversification at Northcoast Seafoods”.

Mr Baird mentioned: “I am delighted that Seafood Connection and Northcoast Seafoods will be working together in the future. The synergies between the two businesses will undoubtedly strengthen our position in the seafood sector, which Northcoast has grown significantly over the last 20 years, with the support of its suppliers and customers.”

Mr Crookes mentioned it was once transparent during the method that the tradition of Seafood Connection can be a “perfect fit” for Northcoast Seafoods, including that he was once taking a look ahead to running intently with the brand new house owners and maximising the advantages from bringing the 2 companies in combination.

Sales within the closing reported yr, 2020, jumped 20 in line with cent, giving Northcoast a £112.5 million turnover, with 112 other folks hired.

It was once a length through which Mr Thorsteinsson – who aligned his instructional wisdom of the Canadian marketplace with Grimsby’s seafood cluster strengths to start out up, shifting from his local Iceland – purchased out longer term Danish backers of the industry.

Takeyuki Nakazawa, Seafood Connection’s leader running officer, supervised the undisclosed deal, appearing as liaison between Maruha Nichiro, Seafood Connection and Northcoast.

“Ever since I met for the first time with the management of Northcoast Seafoods, I came to the conclusion that Northcoast Seafoods speaks the same language as Seafood Connection and Maruha Nichiro,” he mentioned. “We are definitely on the same page and share the same business philosophy. Their individual local uniqueness in a big market such as the UK’s made the company very appealing to Maruha Nichiro and Seafood Connection.

“Their size and influence made it a perfect partner for our all-round geographical expansion strategy into other parts of Europe. I have high hopes for Northcoast Seafoods and am delighted to be able to invite the company into our family.”

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