Macduff Shellfish Changes Hands
Macduff Shellfish, a vital business for the Stornoway fishing fleet, has been sold by its Canadian owners, Clearwater, to Seafood Ecosse. This acquisition, confirmed recently, is expected to provide stability and potential growth for the island’s seafood sector.
Key Takeaways
- Macduff Shellfish, crucial for over 30 prawn vessels operating in the Minch, has been sold.
- The new owner is Seafood Ecosse, an established east coast of Scotland company.
- The sale is part of a wider deal by Clearwater, a Nova Scotian company, to divest underperforming assets.
- The deal is generally welcomed, offering certainty for the future of the business and its employees.
A New Chapter for Island Seafood
Based at Goat Island, Macduff Shellfish has been a significant success story, offering a secure market for numerous prawn vessels, including twelve based in Stornoway. The company also handles catches from mainland ports before processing them in Stornoway. Their premium brand, Wild-Caught Hebridean Langoustines, has seen considerable export success to 18 countries, employing around 30 people at Goat Island.
Deal Details and Future Outlook
Clearwater, which acquired Macduff in 2015 for approximately £98 million, has been facing global business pressures, leading to the decision to sell off certain assets. The takeover by Seafood Ecosse, a 30-year-old company with processing facilities in Fraserburgh and Peterhead, was rumoured for some time and has now been officially confirmed. Vessel owners were notified of the deal, with assurances that the new owners are keen to develop the business and explore mutual opportunities.
It is understood that Euan Beaton, who previously served as president of Macduff Shellfish Group before its sale to Clearwater, will return in a role with the new ownership. Clearwater will continue to operate scallop fishing vessels on the east coast to supply the Macduff processing operations.
Industry Context
David Leiper, managing director of Seafood Ecosse, expressed pleasure in welcoming Macduff Shellfish into their group, stating that the acquisition will enhance their service offering. This news comes shortly after west coast fishing skippers received less favourable news from another processor, Scot Live Shellfish, which announced a 15% reduction in raw material prices and restricted buying days due to increased European competition driving down selling prices.
Sources
- Canadian owners sell key island seafood business, Stornoway Gazette.
