Iceland Seafood decides to exit UK market
Iceland Seafood has decided to exit the UK market, saying that the operation is no longer a strategi…Iceland Seafood has decided to exit the UK market, saying that the operation is no longer a strategic fit.
Iceland Seafood UK previously invested in operating facilities in Grimsby and merged it’s operations from Bradford and Grimsby into this location.
The investment and decision of the merger was completed in March 2020, just before the pandemic began, and the renovation and installation of the factory was very much affected by COVID-19 and later Brexit along with difficulties in overall operations.
Iceland Seafood has now decided that it plans to exit this market from a value-added perspective and has mandated MAR advisors to support the process.
Iceland Seafood said: “Although it has been concluded that the UK operation is not a strategic fit for Iceland Seafood anymore, the excellent facilities and strong management team in Grimsby can be a great addition to other companies in the sector.”