The company provides a range of salmon products for long-established third-party customers as well as retailers from its base in Glasgow.

The shift to an EOT secures the company’s long-term independence and stability following a period of careful planning after the passing of former owner Angus Mackenzie in 2018.

After the Mackenzie family opted to step back from the business, the leadership team evaluated various succession routes before concluding that an EOT was the most effective way to preserve the company’s core values while facilitating a responsible exit for the family.

Under the EOT structure, the company is now owned by a trust that holds the shares on behalf of all employees. Day-to-day operations will continue to be led by the existing management team. managing director, Mary Bisset, will continue to lead the business, having been with the company for more than 20 years, and has been MD for eight years.

She said: “This is a positive step for Marine Products. We wanted an ownership model that protects the legacy of the business while giving it the best possible platform for the future.

“Employee ownership does exactly that – it keeps the company independent, allows decisions to be made for the long term, and recognises that our people are central to our success. The employees know this business best, and this structure puts them at the heart of safeguarding its future.”

A board of trustees has been appointed to oversee the trust and act in the interests of all employee beneficiaries, while the company’s leadership team continue to manage the business as usual.

Marcin Tokarczyk (operations manager) said: “I have been with Marine Products for 16 years, and what has always mattered to me is the people and the pride we take in what we do.

“Knowing the company is now owned for the benefit of employees gives real reassurance about the future. It feels like a natural next chapter – protecting what has been built while giving the business the stability it needs to keep going for the long term.”

Employees welcomed the news. Ms Bisset said: “This move provides a clear and stable solution to succession, removes uncertainty around future ownership, and ensures Marine Products remains focused on sustainable growth and outstanding products.

“It is good news for the company and our people. Feedback from our customers has been very positive indeed.”