UK-based private-equity house Owner Venture Managers plans to accelerate growth at foodservice supplier Premier Fish following its recent acquisition of the seafood group.
The investment vehicle is exploring various “selling and marketing opportunities” that could range across “a number of different initiatives” to scale up the business in a three to five-year timescale, OMV director James Wooster told just-food.
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Having just closed the Premier Fish acquisition, OMV is looking into opening a depots to expand the business’s geographic reach. The company’s first priority is to continue to grow its foodservice revenue stream by expanding its base of chain customers, which additional depots will help, Wooster explained.
The group is also looking at other ways to grow the business. “We are considering how to expand the product offering [outside core premium fish]… Retail is also something to look at but there are quicker wins… We are ambitious. It is early days – the first thing to do is get under the skin of what we can do,” Wooster said. “Growing the business through acquisitions will be a significant part of the strategy. We are looking at a target already. Acquiring related business will be key.”
Premier Fish founder Steve Gillingham will stay on at the business as managing director. OMV also plans to appoint a chairman with “extensive” food sector experience.
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Wooster said he is unable to name the new chairman because the final contract is yet to be signed. However, he did reveal the individual has headed up food businesses that generated sales of between GBP25m and GBP300m and has a history of “hitting budget”.
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