International seafood giant snaps up The Seafood Company for £18.3m

Canadian seafood firm FPI (Fishery Products International) has entered the UK market with the acquisition of UK shellfish processor, The Seafood Company, in a £18.3m deal.

“This acquisition positions us well for the growing value-added, fresh, chilled and ready-to-eat fish and shellfish sectors,” said FPI’s chief executive Derrick Rowe.

The purchase would enable the exchange of industry knowledge and culinary innovation between The Seafood Company and FPI’s US arm, Ocean Cuisine, said Rowe.

“Our Primary Group’s production in Newfoundland and Labrador, along with our current and expanding North American value-added business, will benefit from the additional channels for our seafood into the UK retail marketplace,” he added.

Formed in late 1995 through the management buyout of West Sussex-based Anchor Seafoods and Norfolk-based Cromer Crab from Perkins Foods, The Seafood Company employs more than 180 staff and turns over £45m from warm and coldwater shrimp, crab, lobster and molluscs.

The firm will be run by FPI’s Ocean Cuisine International division.