Sun Capital Partners, Japan’s Misubishi Corp and, it has reported, others are believed to be considering ownership stakes in on-the-block UK seafood company, Young’s Seafood, writes The Telegraph.
Handling possible bids from these private investment firms is, reportedly, brokerage, Stamford Partners, and The Telegraph reports Young’s could be worth GBÅ 300 million. Young’s, however, saw GBP 500 million in turnover in 2016.
For the past decade, Young’s has been owned by Lion Capital, Bain Capital and HPS Investment Partners, although there have been other owners in its 200-year history.
Sun Capital describes its interests as “lower middle-market and middle-market companies with untapped potential” and “USD 50 million to USD 1.5 billion revenue for platform investment” as well as “companies with strong market positions”. Their portfolio is varied and vast and includes interests in Friendly’s Ice Cream, Restaurants Unlimited Colorado-based Boston Market Restaurants and Bonmarche woman’s wear.
Young’s is still owned by Lighthouse UK which comprises “substantially all of the operations and assets of the Young’s Seafood group”. Those assets include 1,500 people at three Grimsby factories and the company’s local head office in Ross House, the Grimsby Telegraph has reported.