Scottish Seafood invests in Loch Fyne Oysters
Scottish Seafood Investments (SSI) has completed an investment into Loch Fyne Oysters (LFO), as a part of its strategy to capitalize on LFO's brand and penetrate into new export markets.
LFO farms oysters and mussels and operates a smoker from its site at Cairndow, Scotland.
The deal enables SSI to generate 50% of sales from outside the UK within five years, and introduce new methods of sustainable aquaculture into its operations, reported Fis.com.
The management of the LFO will remain with the existing team, while the ownership will be transferred to SSI. All the 105 jobs in the company will remain unchanged.
Loch Fyne Oysters managing director Bruce Davidson said that SSI has provided the LFO with the investment required to grow the business, while ensuring that the company maintains its independence.
"This exciting new partnership presents some great opportunities, allowing us to increase capacity and work together on the growth of our international business, taking the Loch Fyne brand to the market in the most effective way," Davidson added.
SSI is a joint venture between Scottish Salmon Company (SSC) and SSC's majority shareholder Northern Link.
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