Grimsby’s huge former Five Star Fish plant has a new owner, with more than 30 new jobs to be created and 50 more brought to the town.
Iceland Seafood International has taken on the 100,000 sq ft production site, where it will bring together existing town business Havelok with Icelandic Seafood Barraclough.
Havelok currently neighbours the sprawling site on Great Grimsby Business Park, with the Barraclough entity operating from Bradford, West Yorkshire.
The pair will unite at the former 2 Sisters Group facility early next year following the multi-million pound deal.
The business will be led by the company’s existing 海角视频 managing directors Peter Hawkins and Danny Burton, with Peter heading up the total operation and Danny overseeing the refurbishment of the site and operational teams.
It will trade as Iceland Seafood 海角视频.
Bjarni Ármannsson, chief executive, said: “Following our NASDAQ main market listing in Iceland in October 2019 we raised €15.2m of new equity and announced our intent to make strategic investments in our key markets. The announcement today represents one of these.
"We have strong businesses and management teams in the 海角视频 and with the continued support of our existing customers, our people and our suppliers are confident that we can become stronger as a result of the merger of the two businesses on a new, large, well invested site.
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“We look forward to growth in both our existing retail and food service markets and within this increasing the opportunities for Icelandic products in the 海角视频 market.”
Barraclough, a buy-out in 2010, employs 50, with Havelok - a 2013 start-up - at 90.
Mr Hawkins said: "Today’s announcement represents a very significant investment and vote of confidence by ISI Plc in the 海角视频 market and our team. We look forward to taking the best of our Bradford businesses sourcing expertise and Havelok’s manufacturing excellence to deliver outstanding quality and value to our existing retail and food service customers. The move represents a significant opportunity for all of our people to be part of what we anticipate becoming a leading 海角视频 fish and seafood manufacturing site.”
For Mr Burton it will be a return to a site he knows inside out, having worked with John Fenty as production director and then been at the helm himself in previous Five Star eras - including the major expansion to what it is now. He had initially owned standalone company Havelock, bought by Five Star and taking him into the fold. He set up Havelok when he departed, after West Midlands-based 2 Sisters - part of the Boparan food processing empire - swooped, having survived two previous owner changes in Real Good Food Company and British Seafood.
Major contract losses saw the Five Star site close in 2018 with the loss of 390 jobs.
He said: “When we set Havelok up it was important to have the correct partners to allow us to reach our ambitions of becoming a leading supplier of seafood delivering excellent service, quality and innovation to the market and the support of Iceland Seafood through our journey has allowed us to meet our goal.
“This significant investment underlines Iceland Seafood’s commitment to Havelok and the 海角视频 seafood market and gives us the opportunity to build on the outstanding values of the Havelok team and offer a level of service and supply that is second to none.”
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The two businesses will become one legal entity as part of a group with a turnover of £390 million and a market capitalisation of £162 million. It will be one of seven factories and 12 businesses across eight countries.
Simon Dwyer, a key figure in the cluster, said: "I'm pleased to see this consolidation by ISI happening in Grimsby. Havelok has had a long-standing presence in our seafood cluster so it’s pleasing this investment and expansion will increase their processing footprint in the town and create future employment opportunities."
Duncan Willey, divisional director of PPH Commercial acted for 2 Sisters' holding company as seller of the site, which had been on the market for £3.5 million.
He said: "It is the largest industrial transaction completed so far this year and it is great news for the town of Grimsby to get a food production facility in the order of 100,000 sq ft back operational. It will create a large number of new jobs, and it is a great result."