United Biscuits is to sell its stake in frozen fish business Young’s Bluecrest, to the venture capital division of insurance group Legal & General. The deal is expected to be confirmed on Monday.

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The deal to sell United Biscuits’ 44% shareholding in Young’s will give Legal & General Ventures’ a 79% stake in the company. United, owned by the Finalrealm consortium, is selling its interests in the frozen and chilled food business to focus on its core biscuits and savoury snacks ranges.


The Bluecrest brand had a turnover of some £300m (US$440.5m) and about 30% of the frozen and chilled seafood market, according to Wynne Griffiths, chief executive of Young’s.


Young’s Bluecrest was formed in 1999 from the merger of Young’s, then owned by United Biscuits, with Bluecrest Seafood, an existing Legal & General Ventures’ investment.

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