Ireland’s leading scampi processor has purchased a 100 interest in crosstown rival Rockall Seafoods Ltd.
Whitby Seafoods Ltd. on Wednesday announced that its Middleton Seafoods subsidiary has purchased the neighboring breaded scampi processor, located in the Northern Ireland fishing port of Kilkeel, for an undisclosed sum.
Middleton Seafoods’ Jack Cowden said the acquisition will improve the competitiveness of Ireland’s scampi-processing industry at a time of high raw material costs and increasing price sensitivity by consumers.
There are no plans for redundancies. However, some restructuring may occur, which may result in job losses, explained the company.
Wesley Newell, managing director and shareholder in Rockall Seafoods, will remain with the company, joining Cowden in running the new joint Kilkeel enterprise under the Middleton banner, operating as Middleton Seafoods.
“This transaction is a good thing for the industry, the difficulties scampi processors have faced is evident by this year’s closure of Parkgate in Portovogie, Solway Seafoods in Bladnoch, South Scotland and by the financial rescue packages needed by other scampi producers,” said Newell. “This acquisition with strengthen both businesses and protect Kilkeel’s scampi processing industry.”
Whitby Seafoods also emphasized its commitment to Kilkeel. The company has invested GPB 4.5 million in Kilkeel scampi processing since 2007, without any public assistance.
