Associated Seafoods today (15 July) announced the acquisition of UK smoked salmon producer Lossie Seafoods.
The Scotland-based company said it plans to further develop Lossie Seafoods’ “growing export business to premium markets around the world”.
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The acquisition is the first made by Associated Seafoods, with funding for the purchase coming from Scottish Seafood Investments.
Scottish Seafood Investments is a joint venture recently established by The Scottish Salmon Co. and its major shareholder Northern Link to invest in companies engaged in value-added processing of salmon and other seafood.
Last week, The Scottish Salmon Co. said it was in the final stages of talks to invest in Associated Seafoods, which acts as a holding company for the venture to make acquisitions.
Associated Seafoods was set up by Bill Hazeldean and Dr Stewart McLelland, the CEO and COO of The Scottish Salmon Co., to invest into the value-added processing of salmon.
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By GlobalDataLossie Seafoods purchases the majority of its salmon from The Scottish Salmon Co. Associated Seafoods said the acquisition would provide even closer synergies between the two companies.
Lossie Seafoods employs around 50 people at its, processing facility in Buckie in Moray in the north-east of Scotland. Its strategy has been to focus on premium customers, especially in emerging markets. It pioneered the sale of Scottish smoked salmon in Mexico as well as Jordan, Lebanon and the US state of Hawaii.
Victor West has been appointed as managing director of Lossie Seafoods, joining the company from Food Partners, where he was business development director.
Associated Seafoods chairman Bill Hazeldean said: “The company will now move to use its considerable expertise in the seafood sector to further diversify Lossie Seafoods’ strong export base of niche, quality bespoke salmon to premium clientèle.”
The value of the deal was not disclosed.
