Forty jobs saved as Thistle Seafood acquires Dawnfresh facility
Forty jobs in Lanarkshire have been saved after FRP Advisory, the administrators of Dawnfresh Seafoods Limited, secured a going-concern sale of the Uddingston fish processing facility to fast-growing Peterhead-based seafood business, Thistle Seafoods Limited.
The Uddingston site extends to over 100,000 sq ft and includes a large industrial unit with processing, warehousing, administration and cold store facilities together with an extensive range of plant and equipment.
The deal, which is for an undisclosed sum, sees the immediate transfer of 40 employees to Thistle Seafoods Limited.
Thistle Seafoods will develop the Uddingston site into an advanced added value seafood processing and distribution centre with ready access to retail and wholesale customers and markets in the UK, the EU and further afield. The new Uddingston facility will complement the processing facilities in Peterhead, which focuses on bringing the most innovative seafood products to customers throughout the world.
The acquisition underpins Thistle Seafoods’ strategy to develop a leading ‘sea-to-plate’ seafood processing business based in Scotland but with a customer base expanding across the UK and all major international markets.
Callum Carmichael, partner with FRP Advisory and joint administrator, said that the deal was an excellent outcome for all parties: “We are delighted to have agreed a sale to Thistle Seafoods, which is very well placed to integrate the site and facilities into their own fast-growing business. It is also particularly rewarding that the deal also includes the transfer of 40 employees. We wish Thistle Seafoods every success with their acquisition and with their plans to develop and grow the business.”
Ryan Scatterty, Thistle Seafoods managing director, added: “The acquisition of the Uddingston facility is an ideal fit for our business as it will provide us with a strategic processing, storage and distribution hub with ready access to the key transport networks to better serve our domestic customers. It will also allow us to further expand our product offering and capitalise on our fast-growing export markets. We are delighted to welcome an extra 40 staff to our business and plan to recruit further this year as we build our business.”
Dawnfresh Seafoods Limited was one of the UK’s largest producers and processors of fish and seafood when it went into administration on 28.2.2022, along with Dawnfresh Holdings Limited and R R Spink & Sons (Arbroath) Limited.
FRP Advisory sold the Arbroath facility to Lossie Seafoods Limited in a deal that saved 249 jobs. Dawnfresh Farming Limited, which operates 7 fish farms in Northern Ireland and Scotland continues to trade solvently and will be formally marketed for sale in the coming months.
In the interim, the joint administrators are encouraging interested parties to contact the Edinburgh office of FRP Advisory.