Associated Seafoods nets second Scottish firm

The two deals, both for an undisclosed sum, are Associated’s first purchases since it was set up as an acquisition vehicle for seafood companies 18 months ago.

A spokesman for Associated told FoodManufacture.co.uk that further acquisitions were likely to follow in the sector.

Buckie-based Moray employs 50 people, and is a major buyer of langoustine prawns from Scottish fishermen, purchasing £4m to £5m worth each year.

It supplies both domestic and export customers.

Langoustine potential​

Associated said that Moray had seen difficult trading in recent months, and its involvement would provide resources to reinvigorate the business and provide a development strategy.

Bill Hazeldean, chairman of Associated, said: “We feel there is huge potential in developing the market for langoustine both in the UK and abroad, involving new marketing strategies and innovation, including new value-added products.”​

Lossie Seafoods, which Associated bought on July 15, is also based in Buckie and employs around 50 people.

The company focuses on premium export customers, especially in emerging markets such as Mexico and Jordan.

Victor West has been appointed as the new md of both Moray Seafoods and Lossie Seafoods.

Both deals were funded by Scottish Seafood Investments, a company set up by The Scottish Salmon Company and Northern Link.