FDBusiness.com

Acquisition of Cumbrian Seafoods Approved

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Acquisition of Cumbrian Seafoods Approved

Acquisition of Cumbrian Seafoods Approved
March 29
09:37 2012

The UK Office of Fair Trading has cleared the acquisition of Cumbrian Seafoods by private equity company Lion Capital, which also owns Young’s Seafood, the UK’s leading chilled and frozen fish and seafood company. The OFT examined the implications of the deal, particularly with regard to whether it gave Young’s Seafood a dominant position in the smoked salmon market as well as greater market power in chilled seafood, but has decided not to refer it to the Competition Commission.

Lion Capital acquired Cumbrian Seafoods which is the UK’s leading independent seafood company, late last year from the administrator. Earlier this year, Young’s Seafood announced that, following a review of the operations of Cumbrian Seafoods and its subsidiary Border Laird, some 555 jobs were being cut from the business across its three sites in the UK – a state-of-the-art seafood processing plant at Seaham in County Durham, a smokery at Whitehaven in Cumbria and the Border Laird shellfish facility at Amble in Northumberland. According to Young’s Seafood, the fact that Cumbrian Seafoods went into administration indicated that its business model was not viable and major restructuring was required.

 

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements