British seafood supplier quietly expands reach

www.intrafish.no (Published 09.02.2007)

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British seafood supplier quietly expands reach

Drew Cherry

British foods service supplier Seafood Holdings Ltd. has extended its distibution reach across England with the purchase of two more firms in the northeast part of the country, and a new start-up in the southwest.

Seafood Holdings, which controls Direct Seafoods and Grimsby-based Scotprime SEafoods Ltd.,acquired A.W.Leavings, a third-generation seafood supplier based in Manchester, in December, and last week compleated the acquisition of C & G Neve Ltd. in Fleetwood, England, giving the company the ability to distribute its seafood products nationally.

In addition, the company opened a supply depot in Brixham, England, on the southwest coast Feb. 1.

With the latest acquisitions in Fleetwood and Manchester and the Devon Start-up, Seafood Holdings now has operation in: Colchester; London; Millford Haven, Wales; and Grimsby, England. Founder Toby Baxendale told IntraFish the company's latest expansion gives it a reach rivalled only by Brakes-owned supplier M&J Seafoods.

Seafood Holdings' companies mainly target high-end food service clients at hotels, restaurants and airliners, though it serves wholesale and retail clients as well.

Excluding the two new acquisitions, Seafood Holdings posted sales of around £20m (€60million/$78 million) for the 2006-2007 fiscal year, and earnings before interest, taxation, depreciation and amortization (EBITDA) of £1.7 million ( €2.6 million/$3.3 million).

Private equity firm Risk Capital holds a 24 percent stake in Seafood Holdings Ltd., while founder Toby Baxendale holds the remainder of the firm.

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