£45m deal 'a fantastic vote of confidence' for industry

by Ginny Ware - 25/01/2011

"THE sale of a South Devon seafood suppliers has been hailed 'a fantastic vote of confidence' in the local seafood industry."

Seafood Holdings Limited, which operates regional brands including the Paignton-based Kingfisher Brixham, has been bought by global company Bidvest for £45million.

Kingfisher's sales director Kevin Weyman said key staff will remain including himself, managing director Marc Shipton and purchasing director Les Daniels, and they will operate as a standalone company within the Seafood Holdings Limited group of companies.

He said: "The acquisition will secure the long-term financial future and continued development of Kingfisher as a locally based specialist seafood supplier."
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Seafood Holdings was started by entrepreneur Toby Baxendale, who grew the business into a leading national fresh fish producer and distributor to the UK's catering and hospitality industry.

The company's portfolio includes Southbank Fresh Fish in London, Openshaws in Birmingham and Manchester, Direct Seafoods in London, Colchester and Scotland, plus Taylor Foods based in Newcastle.

Mr Baxendale has retired as Seafood's chief executive officer to pursue his many other interests.

The international food service distribution company Bidvest boasts a turnover of £10billion and employs more than 100,000 people worldwide.

In a statement, the company said: "Seafood provides a unique opportunity to acquire a market-leading fresh fish food service business with sufficient geographic reach to provide a solid platform for growth.

"Seafood will be operated and managed independently of 3663 (Bidvest's international investment holding company) although customer benefits and synergies will be achieved.

"Bidvest is confident the business, with its strong and entrepreneurial management team and dedicated employees, has the potential to contribute meaningfully to group performance over time."

Bidvest is a diversified industrial company listed on the Johannesburg Stock Exchange in South Africa, and is one of the largest global food service distribution companies.

Bidvest interests include 3663 First for Foodservice, which is one of the biggest food service distributors in the UK, and Bidvest Logistics, the leading logistics supplier to national UK food service operators and fast food chains.

It also owns national food service distributors in Australia, Belgium, greater China, Czech Republic, Dubai, the Netherlands, New Zealand, Poland, Saudi Arabia, Singapore, Slovakia and South Africa.

More Details: http://www.thisissouthdevon.co.uk/news/163-45m-deal-fantastic-vote-confidence-industry/article-3137476-detail/article.html