Cornwall's oldest fishing business has been purchased by a Falkland Islands-based company.
Fortuna Ltd has acquired the Ocean Fish Group, a family-run fishing and processing operation headquartered in Roche.
The Falkland Islands firm is a prominent fishing quota and vessel proprietor in the territory, particularly recognised for its factory freezer vessel fleet and frozen-at-sea fish offerings.
The deal was finalised this week, with executives from both organisations stating it will support Ocean Fish in achieving £100m turnover by 2030 through expansion into international markets.
Ocean Fish, which was formerly controlled by the Lakeman family—who have fished Cornish waters for generations—has emerged as a major supplier to wholesale, foodservice and retail clients across the º£½ÇÊÓƵ and Europe in recent years, following the purchases of W Stevenson and Sons in Newlyn and a recent partnership with Chapman's of Sevenoaks, reports .
Leigh Genge, a minority shareholder and continuing chief executive at Ocean Fish, said: "This new partnership is the joining of two like-minded businesses with strong cultural and commercial alignment.
"The access to wider group support as we set about delivering turnover of £100 million by 2030 was a compelling factor for me in this consolidation.
"Our unique and vertically integrated supply chain just became much stronger with access to new global markets, product synergies and a new species into the º£½ÇÊÓƵ."
He continued: "I would like to thank James Wallace, the Fortuna Group managing director, and the wider Fortuna board who believed in and share my ambitions for the group.
"I would also like to thank Andrew and Edward Lakeman for their unwavering support and friendship over the past few decades. I think we can all be exceptionally proud of the success we have achieved with Ocean Fish and I know that the Lakeman family heritage is in safe hands."
Ocean Fish has a rich heritage in family fishing, with origins in Mevagissey stretching back more than four centuries. The operation has transformed from utilising basic wooden vessels to becoming a contemporary, fully integrated enterprise with its own fleet, processing facilities and market operations.
Executives at Fortuna have emphasised their acknowledgement of the Cornish firm's historical significance and remain "fully committed to supporting the business to grow and reach its full potential".
A spokesperson said: "Capitalising on the sound foundations created by Ocean Fish with its consolidated supply chain - catching, marketing, buying, processing, export, retail, wholesale and food service through to the consumer - Fortuna and Ocean Fish are ready to enter a new and exciting phase."
Mr Wallace, managing director Fortuna Ltd, added: "This is a significant acquisition for Fortuna which builds on our strengths as a company, helps further diversify our business, and provides exciting opportunities to realise synergies between the two companies.
"Ocean Fish Group is unique in its vertical integration, and we are very excited to be involved in the future of the company and help to deliver its impressive plans for growth. I am delighted to welcome them into the Fortuna Group, and to build on the legacy of the Lakeman family."
