The chief executive of the Danish company closing in on completing the buy-out of a major Grimsby fish factory has told how it has been a long-harboured ambition to enter the 海角视频 processing market.
Klaus Nielsen has headed up Espersen for more than 20 years, with British retailers being the 拢350 million turnover company鈥檚 biggest outlet. Now the undisclosed deal agreed to purchase Iceland Seafood 海角视频 looks set to open new doors for the company, while mitigating Brexit impacts, as it realises a long-held strategic intention.
鈥淭his acquisition is more than just a business decision; it is a commitment to our customers, our employees, and the industry,鈥 Mr Nielsen said. 鈥淲e are excited about the acquisition of Iceland Seafood 海角视频 Ltd and the myriad of opportunities it presents to Espersen. While our roots and dedication lie firmly with our existing customers and partners, this acquisition reaffirms our commitment to growth. We believe that our new 海角视频 facility and its leadership team will play a critical role in shaping Espersen鈥檚 future on the 海角视频 market, allowing us to serve our customers better and fortify our position as a local supplier.鈥
Read more: 拢5 million netted to back major Grimsby seafood projects creating hundreds of jobs
Further explaining the appetite for the loss-making operation on Great Grimsby Business Park - launched as Covid hit, uniting the existing town business of Havelok with ISI鈥檚 West Yorkshire operation in the 100,000 sq ft former Five Star Fish premises, Mr Nielsen said: 鈥淥ur biggest market is in the 海角视频 already, and for a while it has been a desire for the company to find a foothold in the 海角视频 so we can serve our customers even better than we do today. It has all been about finding the right place at the right time. We have been talking to ISI for a little while, we thought now the road is a little more stable, it was the right time to do it.
鈥淲e knew it was for sale, it was publicly up for sale more than half a year ago, and it is quite a nice plant. Not brand new, but not old, and we see great potential in it, while at the same time it has very strong management.鈥
A team of between 150 and 180 will be welcomed, should all go well in the coming days as the deal is completed, with Espersen 海角视频 Ltd set to be the new entity.
鈥淲e hope to grow the business, hopefully there will be more hiring going on in the months to come,鈥 Mr Nielsen said, revealing how the Copenhagen-headquartered team had been one of the suitors in the initially failed sales process late last year.
Talks were stopped due to the 鈥渙ngoing turbulence in the markets,鈥 with time working for both.
鈥淚t is not a quick fix, it is public information there have been losses in the previous ownership, and we will give ourselves a couple of years,鈥 Mr Nielsen said of the financial situation. Losses of 拢12 million led to ISI鈥檚 divestment decision, and more followed. 鈥淲e hope to see great improvements in 2024 and hope to be in the black in 2025,鈥 he added. 鈥淭hat鈥檚 what we have on the agenda.鈥
An employer of 3,300, mostly in Europe with production plants in Denmark, Poland and Lithuania - as well as Vietnam - and sales offices in many more countries, Espersen has operated in the processing market since its inception in 1937, in Ronne, the principal port town of Bornhorn, a Danish island in the Baltic Sea.
Cod and haddock are long-term specialisms, with pollock a later addition, while seabass and seabream are opportunities harboured in Grimsby that the team is looking to embrace
Of its markets, Mr Nielsen said: 鈥淲e have mainly been in retail, we have been for many years, but one of the possibilities we see is food service and we have had talks with some of the businesses, and have high hopes we will be able to get something done there.
鈥淭he acquisition brings important growth. We will add somewhere between 10 per cent and 15 per cent to the business as it is now, and with the growth that is planned we see it as quite important for us when we achieve it.鈥
A smooth integration is now being planned, which will take 鈥渄edication and a collective effort from both teams鈥. 鈥淲ith our shared passion for excellence and industry expertise, we are confident in achieving a seamless transition鈥, Mr Nielsen said. 鈥淲ith the solid foundation of Iceland Seafood 海角视频 Ltd being integrated into our family, we are optimally positioned to tackle the evolving demands of the fish industry in the 海角视频 market.
鈥淭he coming year promises to be one of growth and fortified partnerships.鈥
Despite a centenary for Espersen looming in the next decade, Mr Neilsen is only the fourth CEO, and the first not of the Espersen name - having taken the helm from third generation Henrik in 2001. Stability, integrity and responsibility are values said to characterise the business鈥 leadership.
Glen Mathews, managing director of Iceland Seafood 海角视频 Ltd, added: 鈥淛oining hands with a renowned name like Espersen is a significant milestone for us. We are excited to contribute to the legacy of quality and trust that Espersen represents and introduce this on a larger scale to the 海角视频 fish market."
