Young’s Seafood has declined to comment on a report it could be among potential suitors casting their nets to acquire the UK-based Icelandic Seachill, owner of The Saucy Fish Co. brand.
The Icelandic Group, which is owned by Iceland Enterprise Investment, announced last week its UK fish products operations were up for sale.
According to a report in The Grimsby Telegraph, Young’s and Japan-based Nissui are among companies said to be interested in acquiring Seachill, which the paper said is “Grimsby’s second largest employer”. The newspaper claimed another option for a deal is equity-backing for the current Icelandic Seachill management team to buy the business.
A spokesperson for Young’s told just-food today (28 April) the company had “no comment” on the report. Nissui has yet to respond to just-food’s request for comment.
Meanwhile, the Unite trade union has accused Icelandic Seachill of “threatening workers in Grimsby with dismissal unless they agree to detrimental changes” in proposed new employment contracts that would hit overtime payments.
Unite claims Icelandic Seachill “relies on large amounts of overtime from its 400 workforce at the chilled site”, but plans to “axe overtime and rates paid for weekend working” to save money in order to pay the UK’s new national living wage of GBP7.20 (US$9.32) per hour from 1 April.
Icelandic Seachill had not responded to requests for comment on the union’s claims at the time of going to press.