Falkland Islands-based Fortuna buys UK firm Ocean Fish

Falkland Islands-based Fortuna has acquired Ocean Fish Group, marking its foray into the UK sportfishing sector.

The fiscal presumption of the woody were not disclosed.

Fortuna is the quota holder for Loligo and Illex squid, finfish and Patagonian toothfish.

The institution precocious secured exclusive lobster sportfishing rights successful Tristan da Cunha from 2027.

James Wallace, the managing manager of Fortuna, said: “This is simply a important acquisition for Fortuna which builds connected our strengths arsenic a company, helps further diversify our business, and provides breathtaking opportunities to realise synergies betwixt the 2 companies.”

In a connection yesterday (27 November), Ocean Fish said the acquisition volition enactment its expansion.

The institution said the woody “strengthens” its UK operations and “further extends its planetary income opportunities done entree to caller products and moving with Fortuna to beforehand their ain UK quota taxon into caller planetary markets”.

The Cornish sportfishing and processing radical supplies retail, wholesale and foodservice customers successful the UK and continental Europe.

Formerly majority-owned by the Lakeman family, Ocean Fish has grown done acquisitions including W Stevenson and Sons successful Newlyn and a associated task with Chapman’s of Sevenoaks.

Leigh Genge continues successful his relation arsenic the firm’s CEO and retains his presumption arsenic a number shareholder.

Genge called the firms “like-minded” with “strong taste and commercialized alignment” and added: “The entree to wider radical enactment arsenic we acceptable astir delivering turnover of £100m by 2030 was a compelling origin for maine successful this consolidation. Our unsocial and vertically integrated proviso concatenation conscionable became overmuch stronger with entree to caller planetary markets, merchandise synergies and a caller taxon into the UK.”

In October, an Oceana study recovered fractional of the UK’s apical 10 commercialized stocks - including North Sea cod and herring - are “critically low” oregon “overexploited”.

Only 41% of 105 assessed stocks were recovered to beryllium “healthy”, with 27% “critically” depleted and 25% “overexploited”.

The NGO warned: “The government’s nonaccomplishment to travel the subject connected drawback limits and acceptable a wide program to extremity overfishing has pushed galore of the UK’s astir important food populations towards collapse.”

It called for legally binding deadlines and drawback limits to rebuild stocks.

"Falkland Islands-based Fortuna buys UK steadfast Ocean Fish" was primitively created and published by Just Food, a GlobalData owned brand.

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