West Bromwich-based Boparan Group buys Five Star Fish out of administration
The investment group headed by the West Midland millionaire owner of Harry Ramsden’s has acquired fish supplier Five Star Fish out of administration.
The Boparan Group, run by food entrepreneur Ranjit Boparan, has bought the company for an undisclosed sum just weeks after his acquisition of iconic fish and chip brand Harry Ramsden’s and before that the purchase and turnaround of the Fishworks restaurant chain.
The millionaire also owns West Bromwich-based poultry processor 2 Sisters Food Group, which supplies high street names such as Marks & Spencer.
The deal is reminiscent of his purchase last year of the Fishworks restaurant chain out of administration.
Five Star Fish’s customers include Morrisons and Iceland as well as a number of leading pub and restaurant chains. It has doubled annual turnover to around £65 million in the past three years and employs 330 people at its Grimsby base.
Despite operating profitably, the company was recently placed into administration due to problems at its parent, British Seafood Group.
This new deal marks an end to any uncertainty surrounding the firm, which the new owner plans to expand.
Mr Boparan said: “We’re absolutely delighted to have bought this fantastic business.
“It’s a brilliant, innovative company with a terrific team of people who have skillfully guided the business to its present heights and we’re going to do everything we can to help them continue to build and expand upon that success.”
Ranjit Boparan owns a number of businesses in the food sector, responsible for over 6,000 employees worldwide and combined annual sales approaching £1 billion.