Associated Seafoods on Thursday announced that it acquired Scottish shellfish processor Moray Seafoods.
This is Associated’s second acquisition in the past week. The company, a joint venture recently established by the Scottish Salmon Co. and Northern Link, purchased Buckie-based smoked salmon producer Lossie Seafoods last Friday.
Founded in 1958, Moray, which employs about 50 people, is the major buyer of langoustine from Scottish fishermen, accounting for GBP 4 million of the GBP 5 million purchased annually. However, the Buckie-based company has struggled financially as of late, and Associated will “provide the resources necessary to reinvigorate the business and develop a strategy for future development.”
Bill Hazeldean, Associated’s chairman, called the acquisition “a springboard for expansion into new markets that will … be fuelled by product innovation.”
"We feel there is huge potential in developing the market for langoustine both in the UK and abroad, involving new marketing strategies and innovation, including new value-added products,” said Hazeldean.
Victor West is the new managing director of Moray, a role he will combine with Lossie. He joins the company from Food Partners, where he was business development director.
