British retailer Morrisons buys Falfish, its seafood supplier partner of 16 years
British retailer Morrisons announced on 1 March that it had acquired Cornish seafood company Falfish after 16 years of working together.
The Bradford, U.K.-based Morrisons is now the first supermarket in the country with its own trawler, the 30-foot Jacqui A, according to a report from The Yorkshire Post.
The retailer purchased its long-time supplier partner – Falfish provides 80 percent of Morrisons fish, accounting for nearly half of the wholesaler's GBP 40 million (USD 55 million, EUR 46 million) annual revenue – for an undisclosed sum, the BBC reported. Morrisons said the acquisition reinforces its commitment to sustainable seafood.
"Falfish is a great fit with Morrisons; not only is it a great British company supplying high-quality fish and shellfish, but they also share our passion for sustainability and for local sourcing," Morrisons Manufacturing Director Andrew Thornber said.. “Our manufacturing operations employ around 9,000 people at 19 sites throughout Britain, providing around 25 percent of everything that Morrisons sells."
Falfish’s 140 staff members will transfer to Morrisons, Mark Greet, the company’s managing director, confirmed to the BBC. Established in 1979, Falfish is a Cornish family business specializing in chilled and frozen fish and shellfish. The company operates from two sites in Redruth and Falmouth, located along the Cornish coast. It was founded by Ian Greet, who is managing director Mark Greet’s father.
"For my father Ian and our family, as part of the Cornish community, this acquisition ensures the continuing ethos of Falfish in upholding our relationships and values,” Greet said. “The acquisition is great news for Falfish's Cornish operations and the wider community, bringing investment and access to many new opportunities."
A spokesperson for Morrisons told The Yorkshire Post that the merger will offer consumers added accessibility to fresh, sustainable seafood.
"For customers, the acquisition will mean further improvements to the range, quality and availability of fresh fish and shellfish at our Market Street counters and represents another significant investment in fresh food and foodmaking when others are retreating from counters. Following the deal, over 80 percent of Morrisons fish and shellfish – both in our 497 stores and in our online business – will come from Morrisons wholly-owned seafood operations,” the spokesperson said.
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