UK: The Scottish Salmon Company buys West Minch Salmon
UK salmon processor The Scottish Salmon Company has bought West Minch Salmon, a firm based in the Outer Hebrides, for an undisclosed sum.
Salmon farmer West Minch Salmon supplies organic, fresh and filleted salmon to international seafood suppliers, supermarkets and the foodservice sector.
The Scottish Salmon Company, formerly Lighthouse Caledonia, said the deal was a "significant step forward" for the business.
The group, which earlier this month started trading under its new name on the Oslo stock exchange, said the deal would help it build an independent Hebridean brand.
CEO Mike Corbett said: "West Minch Salmon has a worldwide reputation for producing excellent quality salmon and this is an important deal for The Scottish Salmon Company as we continue to build the company on high environmental standards, taste, freshness and the provenance of our stock."
Angus MacMillan, who will remain as Managing Director of West Minch Salmon, said the transaction was "a highly significant investment for the Hebrides, Scotland and the UK export market".
He added: "This deal is a perfect fit for the two companies at this time of economic uncertainty. This will allow investment opportunities in the Hebrides, increase employment opportunities at all levels of production, processing and management. The strategic aim of the company is to conduct as much of the business as possible on the islands and expand the unique niche market profile that has been established over many years."
The acquisition is another move to expand The Scottish Salmon Company, which last week announced plans to re-open a factory on the island of Stornoway.
The site was closed in 2008 after the then Lighthouse Caledonia fell into financial difficulties. Private-equity firm Northern Link provided the business with a cash injection and took a stake of more than 50% in the company.
Northern Link remains the majority shareholder in The Scottish Salmon Company, which is listed on the Oslo Axess Exchange under the ticker symbol SSC.
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