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Pinneys’ parent company for sale

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By Bryan Armstrong
Annan and Eskdale
Pinneys' parent company for sale

THERE was further uncertainty on Thursday at the two Young’s Seafood sites in Annan when it was announced that the parent company was up for sale.

The group includes both the threatened Pinneys site and the long-established Young’s scampi factory in Port Street, which recently announced plans to create 50 permanent new jobs.

A spokesman for the parent company said: “We have sent out notification that we intend to start a structured and open bidding process with all interested parties for the sale of the Young’s Seafood group.

“Young’s Seafood is the UK’s leading seafood supplier, with a 200 year heritage and a turnover of over £500 million.”

There were immediate calls from a number local politicians for the closure of the Pinney site to be postponed until any new owner of the company was in place and had a chance to review the decision.

The current owners of Young’s Seafoods Ltd are venture capitalist investors Lion Capital, Bain Capital and HPS Investment Partners.

 

 

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