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Enterprise

Founder of sustainably-sourced seafood company takes full control after buying out 50% partner

The business was founded in 2010

Oceanic Seafoods' Leandro Kwiczor, Beverley Renwick and Jim Welsh

A sustainably-sourced seafood company in Lancaster has been taken over by its managing director and founder.

Jim Welsh has acquired a 100% stake in Oceanic Seafoods following a buy-out of 50% shareholder Three Oceans.

Oceanic Seafoods imports and exports wild frozen and sustainably-sourced seafood, working with accredited factories and catching vessels throughout the world with a focus on the North Atlantic, Pacific Ocean and Barents Sea.

Over the past 11 years, the business has grown internationally, charting new waters and establish offices in Mar Del Plata, Argentina, and Qingdao, China, exporting across the Asian markets.

In the past five years alone, the business has grown annual revenue by more than 80%, turning over £34.5m in 2020.

In 2010, Mr Welsh founded the business in partnership with Three Oceans, with both parties taking a 50% stake.

Following a change of ownership at Three Oceans, with the support of Napthens, Mr Welsh activated a clause in the contract that has allowed him to take a full controlling stake, acquiring the remaining 50% of shares.

Mr Welsh said: "It’s an exciting time for the business. This move to complete ownership will allow us to be more versatile, grow existing 海角视频 customer sales and develop our offering in international markets such as the Far East and US markets.