FRP Advisory, the administrator of Dawnfresh Seafoods, has secured a going-concern sale of the Uddingston facility to Peterhead-based seafood business Thistle Seafoods.
The Uddingston site extends to more than 100,000 square feet 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.
Bosses at Thistle Seafoods said they planned to 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 facility will complement the firm’s processing operations in Peterhead.
Dawnfresh Seafoods was one of the UK’s largest producers and processors of fish and seafood when it went into administration in February, along with Dawnfresh Holdings and R R Spink & Sons (Arbroath).
FRP Advisory sold the Arbroath facility to Lossie Seafoods in a deal that saved 249 jobs. Dawnfresh Farming, which operates seven fish farms in Northern Ireland and Scotland, continues to trade solvently and will be formally marketed for sale in the coming months.
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 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.”