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March 22, 2019

Bhagat Holdings invests in Scottish plant once owned by Young’s Seafood

Bhagat Holdings is taking over a manufacturing facility in Scotland previously-owned by Young's Seafood before the plant was closed last summer.

By Dean Best

Bhagat Holdings is taking over a manufacturing facility in Scotland previously-owned by Young’s Seafood before the plant was closed last summer, with the chicken and seafood processor planning to create around 120 initial jobs.

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  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
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The site in Annan was the location for Young’s chilled fish business, Pinneys, until it shut the plant in June with the loss of 450 jobs.

Now, Bhagat will inject GBP9m (US$11.8m) to start production of seafood and chicken products this autumn, according to the private company’s Russian owner Keshav Bhagat. The Scottish government is also providing an additional GBP1.7m grant through the Scottish Enterprise scheme to support the firm’s European expansion plans to Scotland.

Mr Bhagat, who is also the managing director, said: “We’re thrilled with the site in Annan as it’s ideal for our ambitious bread crumb, dry mixes, fish and chicken-coating operations. We know there’s a highly-skilled local workforce that can help us grow our business, and that’s one of the key reasons we chose to locate in Scotland.”

The Scottish government’s rural economy secretary Fergus Ewing said a number of local bodies came together in an effort to bring Bhagat Holdings to Annan, including Dumfries and Galloway Council, Scottish Enterprise, and the South of Scotland Economic Partnership. 

“I’m delighted that an international company like Bhagat Holdings has chosen to invest in Scotland, with the immediate creation of a significant number of jobs, which will make a real difference to local people and the local economy,” Ewing added.

“When Young’s closed last summer, I said that we would leave no stone unturned and we would keep working to find a solution and an alternative use for this site. That hard work has now paid off and it is Annan and the local community and families who will benefit.”  

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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