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www.intrafish.no (Published 18.09.2006)
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Private equity buyer takes stake in U.K. seafood distributor
IntraFish Media
Private equity firm Risk Capital Partners has taken a minority stake in fresh fish distributor Seafood Holdings Ltd., according to The Daily Telegraph.
The firm bought 24 percent of the firm in a deal valuing Seafood Partners at £12 million (€17.8million/$22.6 million), the Telegraph reported, while owner Toby Baxendale will retain a majority share.
Seafood Holdings is parent of seafood sales and distribution firm Diret Seafoods UK.
The companies supply a full range of seafood to the restaurant trade, including J. Sheekey and Loch Fyne.
In 2005, Seafood Holdings also took over Grimsby-based Scotprime Seafoods.
Risk Captial owner Luke Johnson said of the deal: "People are willing to experiment with fish and it's a growing market."
Seafood Holdings sales are projected to reach £50 million (€74.2million/$94.1 million) by 2007.
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