Posts Tagged ‘Mitsubishi’
Pinneys staff forgotten claims MSP
THE 450 people who lost their jobs following the closure of Young’s owned Pinneys salmon site at Annan have been forgotten, according to a local member of the Scottish parliament. Speaking in Holyrood during a debate on the regional economy, Colin Smyth, the Labour MSP for South Scotland, said the community were told no stone…
Read MoreYoung's deal close – reports
THE private equity firm CapVest appears to be closing in on a deal which will reunite it with Grimsby-based Young’s Seafood, according to weekend financial reports. The Mail On Sunday said that talks were at an advanced stage and CapVest was prepared to pay up to £200 million for the UK’s largest seafood producer. The…
Read MoreCermaq opens new processing plant
THE Norwegian salmon farming company Cermaq has opened an ultra-modern new salmon processing factory in the Nordland region. The plant, located in the community of Steigen, is said to be one of the country’s most efficient processing sites for salmon, and the first factory to be constructed in accordance with the industry 4.0 standard, which…
Read MoreThree-way bid for Young's Seafood
THREE businesses are bidding to buy Young’s Seafood, including one of its former owners, weekend reports have suggested. The Sunday Telegraph said yesterday that the £200 million sale of Britain’s largest frozen and chilled seafood company was nearing completion. The current private equity owners, led by Lion Capital, announced in April that they were putting…
Read MoreYoung's sales continue to rise
YOUNG’S Seafood is continuing to enjoy sales growth, both in the UK and in its new markets in the United States. The company has reported turnover for the second quarter of its financial year (January 1 to March 31) of £136.3 million and an EBITDA (earnings before interest, tax and depreciation) of £5.5 million, maintaining…
Read MoreFashion chain owner ‘eyeing Young's’
THE private equity company Sun Capital Partners, whose portfolio includes the women’s fashion chain Bonmarche and the UK bed maker Dreams, is reported to be considering a bid for Young’s Seafood. The current private equity owners announced on Thursday that Britain’s largest seafood business was being put up for sale. No price tag has been…
Read MoreYoung's eyes China amid sale speculation
YOUNG\’S Seafood is looking to China and Europe as its next move on the international stage, its CEO has confirmed. As products from the Grimsby and Scottish based business began to make their debut across hundreds of stores in the United States this week, company chief Bill Showalter confirmed his latest global aspirations. Speaking to the Press Association, Showalter (pictured)…
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