Over 570 jobs will be kept thanks to the sale of the two firms to the owner of Young's Seafoods. (Photo: Stock File/FIS)

Cumbrian Seafoods, Border Laird sold to Lion Capital

UNITED KINGDOM
Tuesday, December 06, 2011, 02:10 (GMT + 9)

Leading UK independent seafood company Cumbrian Seafoods Limited and Border Laird Limited have gone into administration and been immediately sold to Lion Capital. The latter owns Young’s Seafood.

Cumbrian and Border Laird began struggling as a result of rising raw material costs and reductions in activity. The companies are headquartered in Seaham and operate sites in Northumberland and Cumbria.

“The sale means that its business remains as usual for customers and staff,” clarified Sean Hamilton, director at administrators PricewaterhouseCoopers (PWC) in Newcastle, which handled the administration, Nebusiness reports.

More than 570 jobs in County Durham have been saved. Cumbrian Seafoods employs 378 people in Seaham and 117 in Whitehaven, while Border Laird employs 79 workers in Amble.

“I’m delighted that we have been able to secure a sale of the business, enable the transfer of all employees and preserve the continuity of supply to customers in the run up to Christmas,” Hamilton continued.

Founded in Cumbria in 1997, Cumbrian Seafoods moved its main production facility to County Durham in 2007, BBC reports.

It produces a range of fresh fish, shellfish, coated and added value seafood products to the UK's leading multiple retailers under the Perfect Catch and Ocean Pure brands.

"Whilst I recognise that it is a difficult time for all concerned, this transaction is in the best interests of our employees and customers," Peter Vassallo, chief executive of Cumbrian Seafoods, added.

Cumbrian Seafoods was the first in the UK to present the new Icelandic responsible fisheries label to British consumers. The new Responsible Fisheries Management Certification was established to verify that Iceland’s seafood products are sourced from responsibly managed fisheries.

Since its inception, Cumbrian Seafoods has grown rapidly and after the formation of Cumbrian Holdings Ltd in April 2001, it acquired Grants Smoked Foods, a firm renowned for its award-winning, quality salmon products, followed by Cumberland Cold Storage, now renamed Cumbrian Seafoods (Whitehaven), and then Border Laird, based in Northumberland and for many years at the forefront of shellfish processing.

By Natalia Real
[email protected]
www.seafood.media

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